VNET Group (VNET) shares are soaring 5.09% in pre-market trading on Monday, following a positive adjustment from Morgan Stanley. The investment bank has raised its price target on VNET Group to $14 from $12, while maintaining an Overweight rating on the stock.
The upgraded price target reflects growing confidence in VNET Group's potential. According to FactSet, the average analyst rating for VNET is "Buy," with a mean price target of $13.94. This consensus aligns closely with Morgan Stanley's new target, suggesting a bullish sentiment among analysts covering the stock.
The pre-market surge indicates that investors are reacting positively to the analyst upgrade. As the market opens, it will be interesting to see if VNET Group can maintain this momentum and how it might impact the stock's performance in the broader context of its 52-week range and overall market conditions.