BUZZ-Life360 gains after Morgan Stanley raises PT on strong subscribers growth

Reuters05-13

** Shares of ASX-listed Life360 rise as much as 3.9% to A$15.7

** Morgan Stanley raises PT by 6% to A$17.50 for the California-based IT firm, citing ongoing momentum in users and subscriber growth

** Analysts at MS say, 100,000 net adds/qtr of subscribers "seems very achievable", which appeared an overly optimistic ambition in early March

** Brokerage raises FY24 sales guidance towards the top end of its previous $365-375 million range outlook

** All of 7 analysts covering the stock rate Life360 "buy" or higher; their median PT is A$16.05 - LSEG

** Stock has nearly doubled this year, as of last close

(Reporting by Ayushman Ojha in Bengaluru)

((Ayushman.ojha@thomsonreuters.com;))

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