Amplitude upgraded to Overweight from Equal Weight at Morgan Stanley

Morgan Stanley upgraded Amplitude (AMPL) to Overweight from Equal Weight with a price target of $16, up from $14. The company is positioned to benefit from higher amounts of digital product user behavior data as generative AI accelerates development of digital products like mobile and web applications, the analyst tells investors in a research note. The firm says the shares trade at a reasonable valuation with no seat-based model overhang, which presents upside.