Morgan Stanley upgraded Zebra Technologies (ZBRA) to Equal Weight from Underweight with a price target of $400, up from $305. The firm says “healthier” consumer data points, improving retail capex and “de-risked” fiscal 2025 estimates create a more balanced risk/reward for Zebra shares. However, the analyst still believes the stock’s valuation is slightly ahead of the company’s recovery. Nonetheless Morgan Stanley thinks Zebra lacks a negative catalyst in the near term.
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