HubSpot price target raised to $835 from $747 at Morgan Stanley

Morgan Stanley raised the firm’s price target on HubSpot (HUBS) to $835 from $747 and keeps an Overweight rating on the shares. In addition to exposure to SMB and front-office demand, the firm prefers companies that skew to the conservative side of its leading indicator analysis, trade at a valuation discount to peers and benefit from company specific product cycles, says the analyst, who likes HubSpot’s “best-in-class product for small business front office software,” which the firm argues warrants it a premium valuation.