SEI Investments price target raised to $80 from $75 at Morgan Stanley

Morgan Stanley raised the firm’s price target on SEI Investments (SEIC) to $80 from $75 and keeps an Underweight rating on the shares. The firm, which notes that the S&P 500 shed about 3% and the 10-year UST yield rose greater than 15 basis points in the second half of December, is lowering estimates for client asset levels at trust banks and notes that a higher 10-year yield reduces the capital return outlook.