BlackLine upgraded to Overweight from Equal Weight at Morgan Stanley

Morgan Stanley upgraded BlackLine to Overweight from Equal Weight with a price target of $70, up from $60. BlackLine remains the category leader within its core financial close market, but now trades at an over 35% discount to peers, the analyst tells investors in a research note. The firm believes the company’s margin expansion trajectory is being underappreciated by investors. BlackLine will revise its margin targets up at the investor day on November 19, which will be a catalyst for the shares to move higher, contends Morgan Stanley.