Morgan Stanley Downgrades Global-E Online To Equal-Weight - Read Why
Portfolio Pulse from Shivani Kumaresan
Morgan Stanley analyst James Faucette has downgraded Global-E Online Ltd (NASDAQ:GLBE) from Overweight to Equal-Weight and raised the price target from $38 to $45. The analyst believes that the market has adequately anticipated the likely growth rates for '23 and '24, and built those expectations into valuation. The analyst also noted a reduction in bear concerns around GLBE, particularly since GLBE has acquired competitors and its relationship with Shopify Inc. (NYSE:SHOP) has become more durable.
July 19, 2023 | 5:38 pm
News sentiment analysis
Sort by:
Descending
NEUTRAL IMPACT
The analyst noted a reduction in bear concerns around GLBE, particularly since GLBE has acquired competitors and its relationship with Shopify Inc. (SHOP) has become more durable.
The mention of Shopify Inc. (SHOP) in the context of GLBE's improved market position suggests a positive outlook for SHOP. However, as the focus of the news is primarily on GLBE, the impact on SHOP's stock is likely to be neutral in the short term.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50
NEGATIVE IMPACT
Morgan Stanley has downgraded Global-E Online Ltd (GLBE) from Overweight to Equal-Weight and raised the price target from $38 to $45. The market has adequately anticipated the likely growth rates for '23 and '24.
The downgrade by Morgan Stanley indicates a neutral outlook for the stock in the short term. The raised price target suggests a potential upside, but the downgrade from Overweight to Equal-Weight suggests that the stock is fairly valued at current levels.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100