Despite the market volatility, Morgan Stanley upgraded a raft of stocks in March, including both U.S. and global picks. The bullish calls spanned tech, pharmaceuticals and more, with the bank giving one stock a double upgrade. Here are five of the stocks upgraded by the investment bank: Pinduoduo Morgan Stanley upgraded Chinese e-commerce giant Pinduoduo to an overweight rating in a Mar. 2 note, raising its price target to $113 — giving the stock 52% upside to its current level.
50, or 20% potential upside, in its note from Mar. 6. The bank said ACM should enjoy a strong year of growth in 2023, supported by "strong" market share gains and new product launches. It also expects business in Europe in power semiconductors to expand. Morgan Stanley added that the company's price power was "holding up quite well" and raised its 2023-2024 earnings-per-share estimates.
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