Morgan Stanley Upgrades HeadHunter Group To Overweight, Sees 20% Upside

• Morgan Stanley analyst Luke Holbrook upgraded HeadHunter Group PLC (NASDAQ:HHR) to Overweight from Equal Weight with a price target of $60, implying an upside of 19.8%.
• The analyst expects the Russian labor market to continue to be tight and to benefit the company in 2022 and provide a tailwind for HeadHunter.
• Holbrook adds that the selloff on the back of geopolitical concerns provides an attractive entry point. However, he noted that his upgrade is "centered on fundamental drivers and the company's positive earnings momentum, rather than purely on valuation grounds."
• Price Action: HHR shares closed higher by 1.40% at $48.64 on Thursday.