Sprout Social price target raised to $37 from $36 at Morgan Stanley

Morgan Stanley raised the firm’s price target on Sprout Social (SPT) to $37 from $36 and keeps an Equal Weight rating on the shares. Improving demand with a cyclical spend recovery and secular tech cycle, conservatism in forward outlooks and discounted valuations relative to broader software drive a positive view on small-to-midsized business and front office software, the analyst tells investors.