Citi downgraded Q2 Holdings (QTWO) to Neutral from Buy with a price target of $90, up from $72. While the company’s end market opportunity remains intact with good execution, the stock “may take a breather” after rallying 89% year-to-date, the analyst tells investors in a research note. Citi still sees a stock appreciation opportunity, but views Q2 ‘s risk/reward as relatively balanced at current levels. It looks for more confidence in multiple expansion or a higher growth trajectory to again recommend the shares.
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