Broker Call Report already reported on Friday Morgan Stanley analysts have increased their confidence regarding Macquarie’s growth outlook, and the result has been a shift in their price target to $140 from $133.
Overweight rating retained. Stronger asset management and commodities revenues forecasts have pushed up estimates by some 2%. The extra confidence stems from in-depth research into the future of asset managers worldwide and the conclusion drawn that Macquarie remains well-placed to bend global disruption in its favour.
Sector: Diversified Financials.
Target price is $140.00.Current Price is $128.42. Difference: $11.58 – (brackets indicate current price is over target). If MQG meets the Morgan Stanley target it will return approximately 8% (excluding dividends, fees and charges – negative figures indicate an expected loss).