© Reuters. Box Gains After Upgrade to Overweight at Morgan Stanley as ‘Value is Underappreciated’
By Senad Karaahmetovic
Morgan Stanley analysts upgraded Box (NYSE:) to Overweight from Equal-weight with a new price target of $34 per share, up from $32.
The analysts highlight several factors behind the upgrade, including 1) Solid relative macro positioning w/ compelling ROI and value in Box Suites, 2) strong execution, 3) a more favorable competitive landscape, and 4) upside to margin expansion.
The analysts add that customers are more and more realizing the value of the full Box platform, which is described as a “key in a challenging macro.”
“A large TAM, relatively durable constant currency growth expectations, margin expansion, real FCF support, share buybacks and undemanding valuation trading at just
The analysts add that BOX screens well against Morgan Stanley’s key themes, opposite to DocuSign (NASDAQ:) which saw its rating downgraded to Underweight by the analysts.
Box shares are trading over 3% higher today.
Be the first to comment