Morgan Stanley envisages upside risk to March quarter revenue as merchants accelerate the transition to online sales to combat the lock-down.

The broker also suspects it is too early for credit concerns to emerge. This is likely to come to a head in June or even the September quarter.

Equal-weight. Target is $19.00. Industry view is In-Line.

Sector: Software & Services.

Target price is $19.00.Current Price is $19.55. Difference: ($0.55) - (brackets indicate current price is over target). If APT meets the Morgan Stanley target it will return approximately -3% (excluding dividends, fees and charges - negative figures indicate an expected loss).

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