12:08 PM EDT, 05/11/2026 (MT Newswires) -- Nice (NICE) remains a leading player in the cloud contact center market, with limited competitors able to offer similar functionality at scale and strong conversational artificial intelligence capabilities, Morgan Stanley said in a Monday note.

The company's large base of legacy on-premise workforce engagement management customers provides a durable source of growth as those customers transition to cloud offerings at higher average selling prices, the investment firm said. Morgan Stanley lowered its price target on Nice to $130 from $148 while maintaining its overweight rating.

Morgan Stanley highlighted RingCentral's ( RNG ) leadership position in the unified communications market and cited the company's relationships with providers including Avaya, AT&T ( T ) and BT. Those partnerships give RingCentral ( RNG ) access to about half of unified communications-as-a-service deals, the brokerage added.

While uncertainty around RingCentral's ( RNG ) longer-term growth profile remains, the company continues to execute on profitability expansion and improving capital returns, Morgan Stanley said. The firm raised its price target on RingCentral ( RNG ) to $40 from $33 while maintaining its equal-weight rating.

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