Karooooo price target raised to $37 from $31 at Morgan Stanley

Morgan Stanley raised the firm’s price target on Karooooo to $37 from $31 and keeps an Overweight rating on the shares. The firm forecasts 2.25M subscribers by year-end FY25 and assumes 2.04M subscribers for Q1, notes the analyst, who points out that shares have rallied 30% year-to-date, pricing in the momentum of the FY24 results.