BOX - Box pops after Q4 beat J.P. Morgan upgrades on 'risk reward'

Box (NYSE:BOX) shares rose in premarket trading on Thursday after the file-sharing software company delivered fourth-quarter results that topped expectations, prompting an upgrade from J.P. Morgan. Analyst Mark Murphy upgraded the stock to neutral from underweight and raised the price target to $28 from $22, noting that the business is accelerating, as evidenced by the most recently reported results. Murphy explained that while the competitive threat from the likes of Microsoft (NASDAQ:MSFT) and others still persists, the Aaron Levie-led Box has improved its profitability "markedly" since the investment firm downgraded the stock two and a half years ago.  "Now, as Box embarks on revenue acceleration into the low-to-mid teens with expanding margins and improving churn, we see the risk reward as much more balanced at current price levels, informing our rating change," Murphy wrote in a note to clients. Box (BOX) shares rose slightly more than 6% to $27.57 in premarket trading.

For further details see:

Box pops after Q4 beat, J.P. Morgan upgrades on 'risk reward'