Model N downgraded to Equal Weight from Overweight at Morgan Stanley

Morgan Stanley downgraded Model N to Equal Weight from Overweight with a price target of $30, down from $37. The analyst sees limited near-term upside after Model N announced that the company will be acquired by Vista Equity Partners for $30 per share. The announcement timing and modest premium has led to questions on the intermediate to longer-term trajectory of the business, the analyst tells investors in a research note.