Roblox upgraded to Overweight from Equal Weight at Morgan Stanley

Morgan Stanley upgraded Roblox (RBLX) to Overweight from Equal Weight with a price target of $65, up from $38. The company is proving that its user-generated content platform can drive accelerating share gains, as it reaches larger and more diverse audiences across more platforms, the analyst tells investors in a research note. The firm says Roblox’s micro milestones leave it confident in the company’s ability to execute from here and exceed expectations. The company’s success reaching a broader audience and scaling on new platforms suggests its “opportunity is only growing,” contends Morgan Stanley.