Shutterstock assumed with an Equal Weight at Morgan Stanley

Morgan Stanley assumed coverage of Shutterstock with an Equal Weight rating and unchanged price target of $55. Bullish 2027 targets highlight Shutterstock’s opportunity, but improved execution in stabilizing the core business and scaling new businesses is required to drive value creation, says the analyst, who adds that the bull/bear debates remain unsettled and 2024 is “shaping up to be a transition year.”