Morgan Stanley upgraded Tenable Holdings to Overweight from Equal Weight with a price target of $60, up from $46. Tenable is a category leader and top share gainer within vulnerability management, but is trading at a material discount to peers, the analyst tells investors in a research note. The firm sees a clear catalyst in margin upside driving the stock higher. It sees attractive value in Tenable shares in 2024 against a backdrop of continued share gains, easing topline compares, and opportunities for cost optimization driving higher than anticipated levels of profitability.
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