Morgan Stanley analyst Josh Baer upgraded CCC Intelligent Solutions (CCCS) to Overweight from Equal Weight with a price target of $15, up from $14. CCC is a market share leader, positioned to capture value digitizing and automating the property and casualty insurance industry, the analyst tells investors in a research note. The firm is confident in the value proposition of the company’s portfolio of artificial intelligence products and the ramping contribution of Emerging Solutions near-term. It sees an attractive entry point at current share levels. Morgan moved CCC to “Top Pick,” believing the market is “over-correcting” on the company’s narrowing beat cadence.
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