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Fly News Breaks for April 3, 2019
JCOM
Apr 3, 2019 | 07:45 EDT
Citi analyst Nicholas Jones raised his price target for j2 Global to $95 from $86 after taking over coverage of the name from Walter Pritchard. He keeps a Neutral rating on j2. The company's growth prospects from cloud services will be "slow at best," balanced by moderate growth in digital media, Jones tells investors in a research note. However, j2's acquisition strategy "creates a floor" to the share price since the company has a track record of completing accretive deals, says the analyst. Nonetheless, the current economic climate of high valuations and a looming recession create "significant execution risk" in j2 Global's ability to find accretive opportunities, he adds.
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