Acadian upgraded to Equal Weight from Underweight at Morgan Stanley

Morgan Stanley upgraded Acadian Asset Management (AAMI) to Equal Weight from Underweight with a price target of $26, up from $25. The company’s skew to overseas assets will insulate its possible downside to earnings relative to peers, the analyst tells investors in a research note. Further, the firm sees potential increased appeal of Acadian’s non-U.S. equity strategies to the extent investors increase allocations to rest of world.