Morgan Stanley Direct Lending price target raised to $23 from $21 at RBC Capital

RBC Capital analyst Kenneth Lee raised the firm’s price target on Morgan Stanley Direct Lending to $23 from $21 and keeps an Outperform rating on the shares after its Q1 results. The company continues to ramp up its portfolio post IPO, while remaining focused on rigorous underwriting, and the firm remains positive on its ability to leverage Morgan Stanley’s relationships and network for a potentially differentiated origination and sourcing funnel, the analyst tells investors in a research note.