Morgan Stanley Lifts HOOD Stock Target to $150 on Robinhood's Expansion Plans

Robinhood (NASDAQ: HOOD) stock price rose on September 1 after Morgan Stanley upgraded its rating from equalweight to overweight and raised the target from $124 to $150. This represents a 44% increase from the current price of $104, which closed trading on August 31.

Morgan Stanley attributed its bullish outlook to Robinhood's expansion of its product suite beyond crypto and stock trading, allowing customers to access more products on a single platform and increasing revenue potential for the company's 28 million customer base.

The investment bank also cited the success of Robinhood Chain, which surpassed Ethereum and Hyperliquid in revenue after launching in July.