With shares of newly minted IPO Allbirds (BIRD) down a whopping 50% from their highs on Nov. 3, Morgan Stanley says it’s time to go shopping for the stock.
“Valuation appears compelling, at ~4 times consensus 2023 estimated EV/Sales compared to its ~10 times post-IPO high and peers with comparable revenue growth at 5 times plus. Tempered valuation makes for an attractive entry point, particularly as an opportunity for BIRD [exists] to accelerate revenue growth to 28% in 2022 estimated from…
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