$Lemonade(LMND.US) | Morgan Stanley 𝐝𝐨𝐰𝐧𝐠𝐫𝐚𝐝𝐞𝐬 𝐋𝐞𝐦𝐨𝐧𝐚𝐝𝐞 to 𝐄𝐪𝐮𝐚𝐥𝐰𝐞𝐢𝐠𝐡𝐭, maintains 𝐏𝐓 𝐚𝐭 $𝟕𝟓Analyst steps to the sidelines after a 50% stock run-up, viewing the current valuation as fair while awaiting the next major catalyst.

Lemonade

Morgan Stanley

MORGAN STANLEY DEP SHS EA REP 1/1000 SHS NON CUM PFD O

MORGAN STANLEY DEP SHS REPSTG 1/1000TH PFD SER Q

MORGAN STANLEY DEP SHS REPS 1/1000 7.125% PFD E

MORGAN STANLEY NON-CUM DEP SH REP 1/1000 PFD SER I

MORGAN STANLEY 4.875 DEP SHS REP 1/1000 NCUM PFD SR L

MORGAN STANLEY 6.5%DEP SHS REPSTG 1/1000 NON CUM SER P

MORGAN STANLEY DEP SHS REPS 1/1000 PFD SER 'A'

MORGAN STANLEY DEP SHS REPR 1/1000TH INT PFD SER 'F' FX

MORGAN STANLEY DEP SHS REP 1/1000 NON-CUM PFD STK SER K

Hardik Shah