From Standard & Poor's Equity ResearchMorgan Stanley upgraded Monster Worldwide (MNST
) to overweight from equal-weight, citing the fallout from potential backdating of stock options.
Analyst Lisa Monaco set a $48 stock price target. She thinks concerns about stock options (following reports last week) are largely discounted in the stock. However, she still cautions that the stock option issue is likely to be an overhang on the stock for several months.