Morgan Stanley lowered the firm’s price target on Crowdstrike to $325 from $360 and keeps an Overweight rating on the shares. After speaking with several CISOs, customers and partners last week at the Black Hat Conference, the firm is confident CrowdStrike can limit reputational damage long-term and tells investors that near-term disruption seems largely priced in. Morgan Stanley sees the stock back towards $270-280 on a better-than-feared Q2 and Analyst Day in mid-September.
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