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Analysts from Guggenheim have initiated coverage on Atlassian Corporation (NASDAQ: TEAM) with a Buy rating and a price target of $225, suggesting that AI's impact on job growth won't spell disaster for the company. Despite fears regarding AI coding tools affecting their traditional model, analysts highlight that global developer numbers are still rising, and Atlassian's strong product suite like Jira and Confluence has a substantial customer base. They project a significant growth potential for Atlassian's revenue as they continue to expand into new markets.
Source: YAHOO