** Morgan Stanley lifts price target for fund manager HMC Capital HMC.AX to A$12.98 from A$10.35
** Brokerage sees increase in HMC's assets under management (AUM) given the underwritten establishment of the DigiCo REIT, with AUM of A$4 billion ($2.55 billion), and the progress of Energy Transition Fund, to positively impact co
** Also sees higher FY25 pre-tax earnings of 71.4 AU cents per share, reflecting better month-on-month trading update for November
** Despite better outlook, Morgan Stanley warns about high contribution of non-cash realised gains to revenue and earnings, and overepresentation of listed equities, which provide better fee structure and higher inflows
** Brokerage rates HMC stock "equal-weight"
** 1 of 7 analysts rate the stock "buy", 5 "hold" and 1 "sell"; their median PT is A$8.94 — LSEG
** As of last close, stock up 89.9% YTD
($1 = 1.5704 Australian dollars)
(Reporting by Nichiket Sunil in Bengaluru)
((Nichiket.Sunil@thomsonreuters.com))
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