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OVHcloud: Morgan Stanley a seller and cuts TP

( - Morgan Stanley, which has an "underweight" rating on the OVHcloud stock, has reduced its target price for it today, from E10.
4 to E9.7, in the wake of its H1 results published yesterday.

The broker says that this performance reflects both the slowdown in corporate investment spending, but also the effect of inflationary pressures - particularly increasing electricity prices.

It adds that the growth opportunity represented by the cloud market remains intact, although achieving the 2025 targets - revenue growth of around 25% for an adjusted operating margin of around 42% - could prove difficult.

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