Morgan Stanley Raises HOOD Stock Target to $150 Amid Robinhood Expansion

Raise in HOOD stock target from Morgan Stanley comes as Robinhood expands its product suite beyond crypto and stock trading.

The investment bank has upgraded its rating on HOOD stock to overweight, raising its target from $124 to $150. This suggests that the shares could rise by 44% from their current price of $104.

Morgan Stanley attributes its bullish outlook to Robinhood's expansion of products available on its platform, allowing customers to access more services in one place and increasing revenue potential.

However, the report notes concerns about the Fed hiking interest rates, which could pull risk assets like stocks lower. The RSI reading of 53 suggests a weak momentum for bulls, while an AO bearish divergence indicates a possible drop in price if selling pressure returns.