BlackLine price target raised to $80 from $70 at Morgan Stanley

Morgan Stanley raised the firm’s price target on BlackLine (BL) to $80 from $70 and keeps an Overweight rating on the shares. The firm remains positive into the investor day upcoming on November 19 and expects to gain greater confidence in the new revenue medium-term target of 13%-16%, which it notes is “well ahead of consensus estimates.” The firm expects the investor day to be a positive catalyst as consensus estimates likely get revised upwards afterwards, especially on the margin side, the analyst added.