Shutterstock price target lowered to $28.85 from $50 at Morgan Stanley

Morgan Stanley analyst Matthew Cost lowered the firm’s price target on Shutterstock (SSTK) to $28.85 from $50 and keeps an Equal Weight rating on the shares after the company and Getty Images (GETY) entered into a definitive merger agreement to combine in a merger of equals transaction. The firm sees GPU enabled and GenAI tool adoption driving fundamental upside and outperformance among the North American Internet group. Among the group, the firm identifies Amazon (AMZN) as its new “Top Pick” as it sees GPU-related investments widening its retail advantage to “take more share, more profitably,” while it calls Meta (META) a “GenAI compounder with multiple call options that could come into view.”