Morgan Stanley Resuming IL Coverage At OW, $24 PT

Morgan Stanley is resuming coverage of IntraLinks Holdings, Inc. (NYSE: IL) at OW, with a price target of $24.

“IL has transformed existing document management technology into a SaaS-based secure document management and workflow platform, fueling strong revenue growth of +30% YTD,” Morgan Stanley writes.

“The company continues to execute well, and we expect it to benefit from an expanding product portfolio, share gains in M&A, and investments in sales and marketing.”

IntraLinks Holdings closed Monday at $20.43.