BlackLine double upgraded to Buy at BofA with better growth ahead

As previously reported, BofA double upgraded BlackLine (BL) to Buy from Underperform with a price target of $75, up from $50, citing the firm’s view that BlackLine “finally has the right technology and pricing/packaging in place to drive accelerating revenue growth,” which should be a catalyst. On the upcoming Q4 earnings call on February 11, the firm expects management to continue its “pragmatic” guidance philosophy, which BofA argues “should set the stage for many beat-and-raise quarters” for the automation software vendor.