摩根士丹利将 Manhattan Associates 评级从平配上调至超配，目标价由180美元大幅上调至250美元

Manhattan Associates ( MANH ) was upgraded to Overweight from Equal-Weight at Morgan Stanley, as the investment firm said it sees positives from cloud and artificial intelligence. “We upgrade MANH to OW as cloud bookings accelerate, creating upside to estimates, while early AI agent traction and customer ROI point to a new growth vector and shift the narrative to more of an AI beneficiary,” analyst Chris Quintero wrote in a note to clients. “At 19x CY29 EBITDA, we see an attractive entry point with a 4:1 risk/reward skew.” In addition to Quintero raising his rating on Manhattan Associates, he upped his price target to $250 from $180. “FY26 guidance implies a relatively low sequential build in cloud subscription revenue dollars in the back half of the year, which we believe reflects conservative guidance rather than a deceleration in underlying demand,” Quintero added. “Management has beaten expectations in both Q1 and Q2, and we think this gap between what guidance implies for the second half and the true bookings trajectory is the delta that should ultimately drive estimates, and the stock, higher. Furthermore, FY27 cloud revenue estimates already look well covered by TTM cloud bookings, suggesting upside to estimates.”