Euronext escaped the stock market gloom on Tuesday, rising slightly to its highest levels since February, on the back of positive comments from Morgan Stanley.

Shortly before 2:00 pm, the share price advanced by 0.4%, while the SBF 120 index lost 0.6% at the same time.

As part of a study on the financial services sector, Morgan Stanley raised its recommendation from 'weighted in line' to 'overweight', with a price target raised from €79.7 to €91.7.

The intermediary justifies its upgrade by its desire to adopt a less defensive positioning, which until now led it to favor stocks such as LSEG.

The analyst also points to an attractive combination of synergies, which he expects to gain momentum in 2024/2025, possible mergers & acquisitions (M&A) and returns to shareholders, against a backdrop of reduced group indebtedness.

At the same time, the cash business should benefit from a less demanding basis of comparison, he argues, which could lead to an upward revision of market forecasts with the expected upturn in capital market activity.

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