Morgan Stanley upgraded Nasdaq (NDAQ) to Overweight from Equal Weight with a price target of $110, up from $97. The company’s revenue growth is positioned to accelerate across its solutions business as the cap markets recovery ramps and the macro environment “remains supportive” into 2026, the analyst tells investors in a research note. The firm believes Nasdaq’s transformation is gaining momentum into “higher quality” revenue streams. This should drive a share re-rating, it contends.
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