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Fly News Breaks for October 22, 2019
Oct 22, 2019 | 07:39 EDT
Morgan Stanley analyst Meta Marshall upgraded Bandwidth to Equal Weight from Underweight with an unchanged price target of $67 following the stock's 20% slide over the last month. While she still thinks Bandwidth should trade below growth-adjusted peers given what she sees as its long-term margin potential and time it will take to achieve it, Marshall thinks the stock's price now more accurately reflects the company's growth and profitability opportunity following the recent pullback. She is specifically upgrading the stock ahead of earnings since she sees potential for upside to 2020 expectations as share shifts and international expansion get better reflected in consensus, Marshall tells investors.
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