Here Are All Of Morgan Stanley's Internet Stock Rating And Price Target Changes

Therefore, the brokerage prefers names from large-cap bellwethers that provide attractive growth-adjusted valuations apart from uptrend revisions. The analyst pointed out that the sector has outperformed the broader index by 4,700 basis points since the beginning of 2015.

In a research note to clients, Nowak said, "We see a more balanced risk-reward following ~4,700bp sector outperformance vs. the market YTD and now see both large and Smid-cap valuations in-line with growth-adjusted historical levels. More specifically, we remain bullish on Facebook Inc FB, Priceline Group Inc PCLN, Alphabet Inc GOOGL, and Amazon.com, Inc. AMZN."

Related Link: Time To Short? RetailMeNot Downgraded By Morgan Stanley

In all, the brokerage reviewed six stocks and lifted the price target on four companies while downgrading the rating on three stocks. The analyst retained the price tag on one company.

Internet Ratings And Price Targets

The following stocks are downgraded from Equal Weight to Underweight:

• TrueCar Inc TRUE: Price objective increased from $5.00 to $6.40.
• The Rubicon Project Inc RUBI: Price target slashed from $11.00 to $8.00.
• RetailMeNot Inc SALE: No change in price tag of $8.60.

The following stocks rating are reiterated with an Equal-Weight rating:

• GrubHub Inc GRUB: Target price increased from $31.00 to $36.00.
• Yelp Inc YELP: Price object lifted from $29.00 to $34.00.
• Etsy Inc ETSY: Price target boosted from $11.50 to $13.50.

At Time Of Writing...

• Etsy was down 0.33 percent at $13.60.
• GrubHub was up 0.54 percent at $41.06.
• RetailMeNot was down 8.75 percent at $10.48.
• The Rubicon Project was down 7.26 percent at $8.18.
• TrueCar was down 5.1 percent at $8.38.
• Yelp was up 0.08 percent at $37.42.

Full ratings data available on Benzinga Pro.