GPT Group upgraded to Equal Weight from Underweight at Morgan Stanley

Morgan Stanley upgraded GPT Group to Equal Weight from Underweight with a price target of A$4.84, up from A$4.50, as part of a broader research note on Australia Property and Malls names. The analyst contends that large regional Retail malls are positioned to offer safety, security and growth over the next 12-18 months, noting that landlords look "well placed" to deal with any potential consumer headwinds on the back of higher rates.