NerdWallet price target raised to $13 from $10 at Morgan Stanley

Morgan Stanley analyst James Faucette raised the firm’s price target on NerdWallet to $13 from $10 and keeps an Equal Weight rating on the shares following a Q4 miss and outlook that was below consensus on revenue. Despite top-line softness, adjusted EBITDA margins are expected to return to calendar year 2019 levels, noted the analyst, who adds that execution against management’s expectation for double-digit back-half growth rates is “critical for shares.”