Lucid Capital analyst Ethan Kaye initiated coverage of Morgan Stanley Direct Lending (MSDL) with a Buy rating and $18.50 price target The recent selloff in the business development sector has created an attractive entry point for Morgan Stanley Direct Lending shares, the analyst tells investors in a research note. The firm thinks credit outperformance, supported by the company’s “conservative” strategy and the competitive advantages it derives from the broader Morgan Stanley platform, will drive better investor sentiment in the name over the medium term and help narrow the stock’s valuation gap to peers.
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