Wix.com price target raised to $195 from $148 at JPMorgan

JPMorgan raised the firm’s price target on Wix.com (WIX) to $195 from $148 and keeps a Neutral rating on the shares. The firm refreshed its outlook for the internet infrastructure space on improving small business sentiment. The analyst sees Wix.com’s current multiple premium to GoDaddy (GDDY) as unwarranted and expects GoDaddy’s valuation gap to narrow on a better free cash flow margin outlook and “more generous” buyback strategy. JPMorgan expects artificial intelligence to drive attach and better adoption of web building products.