JPMorgan analyst Sterling Auty raised his price target for VeriSign to $122 following the stock's 20% rally year-to-date. The analyst, however, keeps an Underweight rating on the shares. Solid domain name performance in June and prospects for regaining pricing power are key factors to the recent stock run, Auty tells investors in a research note. The analyst believes the government would be making a bad decision to allow VeriSign's Cooperative Agreement with the Department of Commerce to expire altogether. He sees a renegotiated agreement going forward by the end of the year as the most likely outcome. After speaking with investors, Auty thinks the stock is pricing in a significant chance of the Cooperative Agreement expiring altogether. As such, if full pricing power is not given back, shares of VeriSign could see downward pressure, Auty contends.