UPDATE: Morgan Stanley Initiates Coverage on Shutterstock with Equal-Weight Rating

In a report published Monday, Morgan Stanley initiated coverage on Shutterstock

with an Equal-Weight rating. Morgan Stanley noted, “Digital stock content provider SSTK is well positioned to benefit from a secular tailwind of proliferating online media and stock content utilization. Although SSTK is growing mid-20% with expanding margins, we initiate at Equal-weight because the risk-reward currently looks balanced.” Shutterstock closed on Friday at $24.82.