Morgan Stanley analyst Michael Infante upgraded Clearwater Analytics (CWAN) to Overweight from Equal Weight with a price target of $34, up from $30. The company’s acquisition of Enfusion (ENFN) is a “transformational step that makes the front-to-back opportunity a reality,” the analyst tells investors in a research note. The firm is bullish on the deal, believes the outlined accretion targets are achievable, and wants to own this “best-in-class category leader at a reasonable pro forma multiple.”
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