AB Bernstein says Zoom can rally another 40% after successful IPO

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Zoom founder and CEO Eric Yuan

Victor J. Blue | Bloomberg via Getty Images

Video-conferencing software company Zoom has earned a bull on Wall Street.

AB Bernstein initiated coverage on Zoom with a outperform rating on Tuesday, while setting a 12-month price target at $89 for the stock, which would translate into a 41% gain.