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Investing.com - Morgan Stanley (NYSE:MS) has upgraded Jupiter Fund Management (LON:JUP) from Underweight to Equalweight and raised its price target to GBP1.30 from GBP0.92.
The upgrade comes as Morgan Stanley reassesses Jupiter’s growth prospects following the company’s acquisition of CCLA, which the firm believes has the potential to drive significant earnings growth.
Morgan Stanley projects that the CCLA acquisition could deliver meaningful earnings accretion of more than 40% by 2027 after synergies are realized.
The investment bank cited Jupiter management’s track record of successfully implementing cost-cutting measures as a factor in its more positive outlook on the company.
While Morgan Stanley acknowledges that "structural challenges to core active industry remain significant," the firm’s revised stance reflects positive earnings revision risk that has removed its previous caution about Jupiter’s growth trajectory.
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