SPS Commerce initiated with an Overweight at Morgan Stanley

Morgan Stanley initiated coverage of SPS Commerce (SPSC) with an Overweight rating and $180 price target The firm believes SPS is well positioned to capture share in the $4B electronic data interchange vendor market. The stock at current levels underappreciates the company’s growth durability, tariff benefits, and 20%-plus free cash flow per share growth, the analyst tells investors in a research note.