Despegar.com price target raised to $21 from $17 at Morgan Stanley

Morgan Stanley raised the firm’s price target on Despegar.com (DESP) to $21 from $17 and keeps an Overweight rating on the shares. Incorporating Q3 upside along with 2024 updated guidance, the firm raised its FY24 adjusted EBITDA forecast by 7% and FY25 estimate by 9%.