UPDATE: Morgan Stanley Reiterates Overweight Rating, Removes PT on Endurance International Group Holdings as Concerns of Google's Entry into Domain Registration are Overblown

In a report published Wednesday, Morgan Stanley analyst Simon Flannery reiterated an Overweight rating on

, but removed the $16.00 price target. In the report, Morgan Stanley noted, “Google Domains, currently in beta, offers domain registration. Though Google will provide phone and email support for this service, it will not individually offer web hosting services as it has done in the past. Instead, it is partnering with various companies (Squarespace, Wix, Weebly, and Shopitfy) to help customers build their websites. EIGI is a Google partner through Google's Get Your Business Online program and we see room for expansion in this relationship.” Endurance International Group Holdings closed on Tuesday at $15.00.