** Shares of investment accounting software provider Clearwater Analytics rise as much as 4.9%; last up 3.7% at $28.08
** Morgan Stanley upgrades CWAN to "overweight" from "equal-weight"; raises PT to $34 from $30, a 25.5% upside to stock's last close
** Brokerage says the acquisition of rival Enfusion is a transformation deal for co as it solidifies CWAN as a dominant software provider to the investment management industry
** Adds that it is bullish on both the underlying strategic rationale and the financial implications of the deal
** CWAN earlier this week struck a $1.5 bln cash-and-stock deal for ENFN to boost its international presence and to enter the hedge fund industry
** Nine of 10 brokerages rate the stock "buy" or higher and one "hold"; median PT $34 - data compiled by LSEG
** CWAN stock jumped 37.4% in 2024
(Reporting by Arasu Kannagi Basil in Bengaluru)
((ArasuKannagi.Basil@thomsonreuters.com;))
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