PSQ – Morgan Stanley rates the stock as Overweight

Morgan Stanley upgrades FY21 estimates to the mid point of the guidance range of 35-40% growth in operating earnings (EBITDA).

The broker considers patient acquisition will allow for solid growth even after cycling a very strong FY21.

Moreover, the critical mass and exceptional comparable sales are likely to deliver meaningful earnings leverage. The broker retains an Overweight rating and raises the target to $3.00 from $2.65. Industry view: In-line.

Sector: Health Care Equipment & Services.


Target price is $3.00. Current Price is $2.39. Difference: $0.61 – (brackets indicate current price is over target). If PSQ meets the Morgan Stanley target it will return approximately 20% (excluding dividends, fees and charges – negative figures indicate an expected loss).



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