PDL - Morgan Stanley rates the stock as Overweight
PUBLISHED
2021-11-09
Content
Pendal Group's ESG and impact investing capabilities give Morgan Stanley more comfort on flow recovery. The early success of impact investing ($400m) suggests inflows can come faster than expected, given a scarcity of impact investing funds.
The analyst feels ESG growth options are not allowed for in the current share price, which could drive a sustained re-rating. The Overweight rating and $8.80 target price are retained. Industry view: In-Line.
Sector: Diversified Financials.
Target price is $8.80.Current Price is $6.97. Difference: $1.83 - (brackets indicate current price is over target). If PDL meets the Morgan Stanley target it will return approximately 21% (excluding dividends, fees and charges - negative figures indicate an expected loss).