JPMorgan raised the firm’s price target on Wix.com (WIX) to $205 from $195 and keeps a Neutral rating on the shares. The firm says that while Wix.com’s Q3 numbers came in-line on revenue, free cash flow was well ahead of the Street and Creative Subscriptions bookings positively surprised with visible acceleration. The analyst upped the price target on the “strong” quarter but thinks a preferable capital allocation scenario would involve refinancing the convert and buying back more shares.
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