Morgan Stanley Upgrades $HOOD to Overweight, Raises PT to $150 from $124 Analyst comments: "We see increasing evidence that broader product capabilities are improving the economics of HOOD’s installed customer base, supporting more assets per customer, more activity per customer, and greater economics captured per activity. While investors increasingly recognize HOOD’s accelerating product velocity and expanding TAM, we think the less appreciated opportunity is how these products are changing the economics of the existing customer base and extending the duration of growth. Rather than relying primarily on funded-account growth or a stronger retail trading environment, HOOD increasingly has multiple ways to grow revenue from its 28m customers already on the platform. A broader wealth offering supports greater wallet consolidation, active trader capabilities and prediction markets increase engagement, while Rothera creates scope to retain more of the economics generated by that activity. HOOD has made substantial progress broadening the platform, with 13 business lines now generating $100m+ of annualized revenue, while newer businesses across retirement, banking, credit card, advisory, and prediction markets continue to scale, and a host of other initiatives that remain nascent or on the come offer additional growth vectors across the value chain." Analyst: Michael Cyprys