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Zoom Gains As RBC Sees It Staying Part Of Work Life

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By Dhirendra Tripathi

Investing.com – Zoom Video (NASDAQ:ZM) shares rose more than 4% Friday after RBC added it as a top pick a day earlier.

RBC analyst Rishi Jaluria initiated coverage of the stock with an outperform rating. He has a target of $450 for the stock, an upside of almost 25% from the stock’s current level of $361.

Jaluria believes Zoom will continue to be a key part of work life in the future, particularly for larger enterprise customers.

Many believe the work-from-home culture that the pandemic brought and one that Zoom thrived on last year may no longer be the same as more sectors of the economy open up and life returns to normal.

On Thursday, Argus upgraded Zoom with a $440 target.

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