Sinch upgraded to Equal Weight from Underweight at Morgan Stanley

Morgan Stanley upgraded Sinch (CLCMF) to Equal Weight from Underweight with a price target of SEK 20.50, down from SEK 23.50. The firm adjusted ratings in the European software and services group as part of its 2025 outlook, continuing to back “strong idiosyncratic stories” in 2025, against a “still subdued macro and IT spending backdrop.” Modest IT budget growth expectations is an improvement, but there is still an uncertain macro backdrop, the analyst tells investors in a research note.