Morgan Stanley analyst James Faucette upgraded Global-e Online (GLBE) to Overweight from Equal Weight with a price target of $46, down from $55. The analyst believes investor expectations have moderated to a more reasonable level. The firm also likes Global-e Online’s “achievable” growth targets and “cheap optionality” in Borderfree.com. The company will move to positive GAAP earnings, with earnings compounding ahead, the analyst tells investors in a research note. Morgan Stanley says increased tariffs likely eventually benefit Global-e Online, as merchants will look to simplify operations.
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