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Barchart
Barchart
Wajeeh Khan

Zoom Stock Just Scored a New 'Buy' Rating. Here's Why.

Zoom BofA ZM Bank of America

Zoom Communications (ZM) shares have been ripping higher since late July, but a senior Bank of America analyst believes the rally is not out of steam just yet. Analyst Matt Bullock reinstated coverage on the videoconferencing platform on Aug. 19 with a “Buy” rating and a $130 price target, indicating potential upside of more than 20% from here.

Versus its July low, Zoom stock is up nearly 30% at the time of writing.

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