Morgan Stanley Maintains Equal Weight on E2open (ETWO) Stock

On Monday, May 19, Morgan Stanley maintained its “Equal-Weight” rating on E2open Parent Holdings, Inc. (NYSE:ETWO) and kept a price target of $2.10. However, the firm raised its “Bull Case” price scenario to $4.05. This change comes after news that WiseTech Global is involved in a strategic review of E2open Parent Holdings, Inc. (NYSE:ETWO), which can possibly result in a takeover.

Morgan Stanley’s analyst Chris Quintero acknowledged E2open Parent Holdings, Inc.’s (NYSE:ETWO) value as a strategic asset and highlighted the company’s solid core enterprise customer base and its high gross retention rate.

Quintero did not confirm any pending transaction but suggested that the adjustment in the Bull Case is a response to the potential outcome of the strategic review. The analyst’s view indicates that the review could lead to a deal that will realize a higher value for E2open Parent Holdings, Inc. (NYSE:ETWO).

E2open Parent Holdings, Inc. (NYSE:ETWO) provides a cloud-based, end-to-end supply chain software platform. The company helps businesses optimize their supply chains. Its platform combines data, networks, and applications to allow clients to manage their supply chain, including manufacturing, logistics, channel, and distribution.

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