BUZZ-Doximity rises after Morgan Stanley upgrades to 'overweight'

Reuters12-16
BUZZ-Doximity rises after <a href="https://laohu8.com/S/MSPQL">Morgan Stanley</a> upgrades to 'overweight'

** Shares of telehealth company Doximity DOCS.N up 3.5% at $45.37

** Morgan Stanley upgrades to "overweight" from "equal-weight" rating; raises PT to $65 from $62

** Brokerage says stricter constraints on direct-to-consumer drug advertising could drive pharma companies to spend more on platforms for healthcare professionals like Doximity, representing potential upside to its estimates

** Sees an expanding market for healthcare professionals, helped by AI-enabled workflow tools and believes concerns over competitive risks from OpenEvidence are overdone

** Also adds DOCS has consistently expanded a suite of tools, deepening its integration into clinicians’ daily workflows, resulting in increased engagement and higher monetization

** 13 of 22 brokerages rate the stock "buy" or higher, 7 "hold", 2 "sell"; their median PT is $65 — data compiled by LSEG

** As of last close, stock down ~18% YTD

(Reporting by Sanskriti Shekhar in Bengaluru )

((Sanskriti.Shekhar@thomsonreuters.com))

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