Citi upgraded BlackLine (BL) to Buy from Neutral with an unchanged price target of $73. The firm calls the shares a top pick in U.S. application software. Citi believes BlackLine will see an “outsized benefit versus perception” with the ongoing transition within the SAP base from on-premise to cloud that should see improving attach and monetization, supported by recent conversations with partners. This should drive upside in 2025 with a “compelling” risk/reward” at current share levels, the analyst tells investors in a research note.
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Read More on BL:
- BlackLine Announces Leadership Change and Positive Revenue Outlook
- BlackLine appoints Stuart Van Houten as Chief Commercial Officer
- BlackLine downgraded to Underweight from Neutral at Piper Sandler
- BlackLine price target raised to $73 from $64 at Citi
- BlackLine price target raised to $86 from $81 at JMP Securities