GoDaddy price target lowered to $159 from $197 at Morgan Stanley

Morgan Stanley analyst Elizabeth Porter lowered the firm’s price target on GoDaddy (GDDY) to $159 from $197 and keeps an Equal Weight rating on the shares. A Q3 revenue beat in-line with recent trend and fiscal year raise slightly less than the Q3 beat “limits catalysts for investor re-engagement,” the analyst argues. The shares “screen attractive” at the current valuation, but the firm looks to build confidence in investments yielding catalysts on better growth, the analyst tells investors.