0103 GMT - Macquarie keeps its overweight recommendation at Morgan Stanley despite near-term capital-markets softness weighing on the group's earnings outlook. MS analysts trim their fiscal 2026 EPS forecast for Macquarie by 5% to reflect what they see as a delayed recovery in capital-markets activity, telling clients in a note that the near-term outlook for asset realizations is softer. They point out that some of the Australian financial giant's European peers have guided for lower performance fees in fiscal 2025. However, they say that they are growing more confident in Macquarie's medium-term growth prospects in Europe. MS lowers its target price on the stock by 11% to A$224.00. Shares are up 2.1% at A$203.61. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
March 24, 2025 21:03 ET (01:03 GMT)
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