Vertex price target raised to $62 from $50 at Morgan Stanley

Morgan Stanley analyst Chris Quintero raised the firm’s price target on Vertex (VERX) to $62 from $50 and keeps an Overweight rating on the shares. The firm has greater conviction in Vertex being a high-teens grower with optionality for a bull case scenario of 20% growth after taking a closer look at the ERP supercycle and e-invoicing opportunities, the analyst tells investors.