Morgan Stanley : rates ASX as Equal-weight

First half earnings were broadly in line. New technology remains on track and is expected to bring more revenue opportunities.

Testing of the project to replace CHESS with distributed ledger technology will start in July.

Equal-weight retained. Target is $82. Industry view: In-Line.

Sector: Diversified Financials.

Target price is $82.00.Current Price is $83.70. Difference: ($1.70) - (brackets indicate current price is over target). If ASX meets the Morgan Stanley target it will return approximately -2% (excluding dividends, fees and charges - negative figures indicate an expected loss).

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