BUZZ-Morgan Stanley upgrades AppLovin to "overweight" despite bearish stance

Reuters2025-04-10

BUZZ-<a href="https://laohu8.com/S/MSPQL">Morgan Stanley</a> upgrades AppLovin to "overweight" despite bearish stance

** Brokerage Morgan Stanley upgrades marketing platform AppLovin APP.O to "overweight" from "equal weight", trims PT to $350 from $470

** New PT still represents 27.3% upside to the stock's last close

** Brokerage notes that APP has consistently outperformed the in-app advertising market since '23

** APP is well-positioned to outperform due to its strong foundation, which includes high exposure to direct response budgets, a history of innovation-driven outperformance in its end market, and robust fundamentals and valuation support -Morgan Stanley

** Brokerage believes the company's non-gaming advertising product has started strong, particularly in e-commerce, and is expected to drive significant revenue growth

** "We lower our estimates and price target to account for greater macro uncertainty and our bear case now assumes a consumer-led recession in 2025"- Brokerage

** 22 out of 27 brokerages rate the stock "buy" or higher, 4 rate "hold", 1 rate "sell" and median PT is $535 as per LSEG data

** Including session's moves, APP stock down 15.1% YTD

(Reporting by Padmanabhan Ananthan)

((Padmanabhan.Ananthan@thomsonreuters.com))

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budgets, a history of innovation-driven outperformance in its end market, and robust fundamentals and valuation support -Morgan Stanley ** Brokerage believes the company's non-gaming advertising product has started strong, particularly in e-commerce, and is expected to drive significant revenue growth** \"We lower our estimates and price target to account for greater macro uncertainty and our bear case now assumes a consumer-led recession in 2025\"- Brokerage  ** 22 out of 27 brokerages rate the stock \"buy\" or higher, 4 rate \"hold\", 1 rate \"sell\" and median PT is $535 as per LSEG data ** Including session's moves, APP stock down 15.1% YTD (Reporting by Padmanabhan 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