** Analysts at Jefferies flag lingering concerns around AI disruption risks for ASX-listed Xero XRO.AX

** The launch of Anthropic's "Claude for Small Business" — which integrates multiple software providers, including Xero — could reshape the competitive landscape- brokerage

** Says the co needs to keep spending to build its brand awareness, especially in the U.S.

** Jefferies cuts price target to A$77 per share from A$84.80, retains "hold" rating

** Morningstar says co's expansion into the U.S. is driving negative market sentiment for co

** Investment research firm says XRO could struggle to compete in the U.S. as it faces competition from Intuit's QuickBooks - seen as having stronger distribution

** XRO down over 35% this year