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Morgan Stanley Direct Lending price target lowered to $21 from $22 at RBC Capital

RBC Capital lowered the firm’s price target on Morgan Stanley Direct Lending (MSDL) to $21 from $22 and keeps an Outperform rating on the shares after its Q1 results. The firm remains positive on the company’s ability to leverage Morgan Stanley’s relationships and network for a potentially differentiated origination and sourcing funnel, also noting that it sees Morgan Stanley Direct Lending generating comparable ROE to peers even with a conservative portfolio.

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