UPDATE: Morgan Stanley Initiates Coverage On MobileIron On Multiple Positive Factors

In a report published Wednesday, Morgan Stanley analyst James E. Faucette initiated coverage on

with an Overweight rating and $13.00 price target. In the report, Morgan Stanley noted, “MobileIron provides a platform allowing enterprises to secure, manage, and deliver applications and data to any mobile device, while maintaining a native user experience for employees. A competitive market and early commoditization of basic device management functionality has investors wary of the sustainability of growth. "However, as enterprises move from the simpler enablement and management of mobile devices towards more strategic uses of this emerging compute platform to drive increased productivity and differentiation, MobileIron's 1) leading technology, 2) large installed base of >6,000 customers, and 3) expanding ecosystem of partners/apps should enable sustained pricing and strong revenue growth (35% CAGR thru CY16).” MobileIron closed on Tuesday at $10.74.