Morgan Stanley reiterates Overweight ratings on the hard-disk drive makers in a pair of research notes Monday.
I'm assigning a hold to Morgan Stanley Direct Lending, reflecting a balanced risk/reward profile after recent price appreciation. MSDL's fundamentals remain solid with a 21% NAV discount, low non-accruals, and below-average PIK, but sector-relative valuation is no longer compelling. Key concerns include high debt-to-equity, limited NII growth prospects, and significant SaaS portfolio exposure that could pressure future performance.
At $212.66, Morgan Stanley (NYSE:MS | MS Price Prediction) is a Hold.
MS is keeping M&A options open as it targets $10T in wealth assets, with deals likely focused on advisors, private markets and alternatives.
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