Allbirds price target raised to $8 from $5 at Morgan Stanley

Morgan Stanley raised the firm’s price target on Allbirds (BIRD) to $8 from $5 and keeps an Equal Weight rating on the shares. The company reported a Q2 EBITDA beat on better than expected cost control and additional store closures, the analyst tells investors in a research note. The firm believes Allbirds’ fundamentals remain challenged.