Global-e Online downgraded to Equal Weight from Overweight at Morgan Stanley

Morgan Stanley analyst James Faucette downgraded Global-e Online to Equal Weight from Overweight with a price target of $45, up from $38. Market growth expectations exceed Morgan Stanley’s raised estimates and the stock’s valuation has expanded meaningfully, creating a balanced risk/reward at current levels, the analyst tells investors in a research note. The firm says buy-side expectations for Global-e Online are well ahead of its new 2024 forecasts.