Atlassian price target raised to $300 from $280 at Jefferies

Jefferies raised the firm’s price target on Atlassian (TEAM) to $300 from $280 and keeps a Buy rating on the shares. The firm said its management meetings gave it incremental confidence in the innovation uptick combined with R&D leverage still to come at Atlassian. Investors have been concerned about the 60% average price premium for Rovo relative to core Jira, but management noted plans to discount to drive adoption, the analyst tells investors in a research note.