Morgan Stanley Upgrades Robinhood to Overweight with $150 Price Target

Roninhood Markets' HOOD shares rose in premarket trading on Tuesday after Morgan Stanley upgraded the online trading platform to Overweight from Equal-weight and raised its price target to $150 from $124.

The upgrade came even as broader cryptocurrency-related stocks declined, with Coinbase and Strategy trading lower in premarket activity. Morgan Stanley said Robinhood's expanding product lineup, stronger customer engagement, and growing asset-based revenues could support further growth.

The bank also raised its earnings estimates for the company through 2028. Analysts led by Michael Cyprys said Robinhood's broader product capabilities are improving the economics of its existing customer base.