Confluent upgraded to Overweight from Equal Weight at Morgan Stanley

Morgan Stanley analyst Sanjit Singh upgraded Confluent to Overweight from Equal Weight with a price target of $30, up from $29. The firm’s "AlphaWise Cloud Optimization Survey" indicates that 73% of respondents are actively engaged in cloud optimization initiatives. The analyst cites an attractive valuation, Confluent’s "major pivot" to profitability and a large growth opportunity that remains intact for the upgrade.