What does 'overweight' rating mean as Morgan Stanley upgrades India?

Morgan Stanley upgraded India to 'overweight' from 'equal weight', stating it's now the top ranked, most-preferred market among emerging markets. An 'overweight' outlook means that Morgan Stanley expects India's economy to perform better in the future. "With GDP per capita only $2,500 and positive demographic trends, India is arguably at the start of a long wave boom," Morgan Stanley said.