Morgan Stanley upgraded KKR (KKR) to Overweight from Equal Weight with a price target of $150, up from $120. The firm says KKR offers a way to play the market when anticipating a capital markets recovery. Morgan Stanley is “leaning into risk” following the “better than expected” tariff de-escalation with China, which it believes “reduces tail risk.” The news could also increase market confidence in an eventual capital market recovery, supporting the private markets “flywheel spinning faster,” the analyst tells investors in a research note.
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