Moelis upgraded to Overweight from Underweight at Morgan Stanley

Morgan Stanley upgraded Moelis (MC) to Overweight from Underweight with a price target of $68, up from $42. The firm, which also raised its Midcap Advisors Industry View to In-Line due to improving market conditions for dealmaking, expects the pipeline to start moving again, driven by rapidly improving market conditions, regulatory clarity, significant pent-up demand, and structural drivers of M&A, the analyst tells investors in a group note.