Morgan Stanley upgraded Haleon (HLN) to Overweight from Equal Weight with a price target of $11.25, up from $10.65. The firm appreciates Haleon’s “market-leading exposure in defensive categories.” With more clarity on the company’s margin expansion, it has a path towards a high-single-digit earnings growth annually from 2026 to 2030, ahead of peers, the analyst tells investors in a research note. Morgan Stanley says that amid an uncertain macro backdrop, Haleon is an “attractive defensive play.”
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