Open Lending upgraded to Equal Weight from Underweight at Morgan Stanley

Morgan Stanley upgraded Open Lending to Equal Weight from Underweight with a price target of $7, up from $4. The analyst expects rising auto inventories should help stabilize the company’s new vehicle certified loans in 2024, while easing interest rates will help add flexibility to insurance companies hurdle rates, which in turn should make program pricing more attractive overall. The stock’s risk/reward appears much more balanced at current trading levels, the analyst tells investors in a research note.