MARKET TALK: Morgan Stanley Cuts Henderson; Upgrades Aberdeen

30th Jul 2010 10:16

0916 GMT [Dow Jones] Morgan Stanley switches out of Henderson Group (HGI.LN), downgrading to equalweight from overweight and into Aberdeen Asset Management (ADN.LN), upgrading to overweight from equalweight. Thinks Aberdeen has a more compelling flow recovery and earnings growth potential. Cuts Henderson price target to 150p from 153p and lifts Aberdeen price target to 175p from 155p. Meanwhile, reiterates its overweight recommendation on Schroders (SDR.LN). Expects it to demonstrate "best-in-class" growth among its coverage universe in 2Q '10. Cuts the price target to 1545p from 1565p, reflecting markets, currency and flow data. Reduces F&C Asset Management (FCAM.LN) price target to 62p from 76p to also reflect lost mandates and reduced performance fee expectations. Keeps equalweight. ([email protected]) Contact us in London. +44-20-7842-9464 [email protected] (END) Dow Jones Newswires July 30, 2010 05:16 ET (09:16 GMT)