ZoomInfo price target raised to $13 from $11 at Morgan Stanley

Morgan Stanley raised the firm’s price target on ZoomInfo (ZI) to $13 from $11 and keeps an Equal Weight rating on the shares. The firm sees a multiple in line with the low end of the small-to-mid cap software peer group as “justified” given muted growth and the declining revenue profile and maintains an Equal Weight rating until it has confidence in the pace of a return of growth, the analyst tells investors after earnings.