Scotiabank lowered the firm’s price target on GitLab (GTLB) to $67 from $80 and keeps an Outperform rating on the shares. The firm would characterize its recent checks on the company as “fine,” with building Duo adoption but pockets of weakness in the macro, the analyst tells investors. Additionally, while the firm does not see a significant positive catalyst in Q1 results, shares remain relatively undemanding.
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