TaskUs upgraded to Overweight from Equal Weight at Morgan Stanley

Morgan Stanley upgraded TaskUs (TASK) to Overweight from Equal Weight with a price target of $21, up from $18. The firm views the stock as an attractively valued artificial intelligence beneficiary with exposure to key customers Meta and Open AI. It expects this exposure to drive accelerating growth in 2025 and 2026. TaskUs is an “underappreciated beneficiary of AI investment,” the analyst tells investors in a research note. Morgan Stanley believes the company will continue to increase wallet share with Meta, which should accelerate growth in AI Services.