Wells Fargo analyst Finian P. O’Shea upgraded Morgan Stanley Direct Lending (MSDL) to Overweight from Equal Weight with an unchanged price target of $17. The shares are “compelling” at current levels, trading at 0.79-times net asset value, the analyst tells investors in a research note. Wells believes Morgan Stanley Direct Lending has structural return “protections” through the credit lookback and a lower expense base relative to peers.
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