UPDATE: Morgan Stanley Initiates Coverage on Barracuda Networks on Strong Business Model, Good Upside Potential

In a report published Monday, Morgan Stanley analyst Keith Weiss initiated coverage on Barracuda Networks (NYSE: CUDA ) with an Overweight rating and $28.00 price target. In the report, Morgan Stanley noted, “Barracuda's effective, yet easy-to-use solutions specifically targeting mid market IT needs should continue to drive new customer growth,