UPDATE: Morgan Stanley Initiates Coverage on Move Following AlphaWise Survey

In a report published Monday, Morgan Stanley analyst Scott Devitt initiated coverage on

with an Equal-Weight rating and $13.00 price target. In the report, Morgan Stanley noted, “We believe Move can sustain low-double-digit revenue growth but faces strong competitive headwinds. However, at 1.8x / 13x 2015 revenue / EBITDA, we believe competitive concerns are reflected in valuation, leading to a balanced risk-reward.” Move closed on Friday at $12.95.