Oppenheimer analyst Ken Wong upgraded Wix.com to Outperform from Perform with a $110 price target. The analyst believes Wix has the potential to operate more efficiently to drive meaningful shareholder value. He views the activist involvement as a positive catalyst to potentially accelerate efforts to streamline operations, and hold management accountable to staying the course. A combination of these initiatives could deliver meaningful shareholder value, Wong tells investors in a research note.
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