Morgan Stanley Raises Prosus to Overweight, Cites Peak NAV Discount and 29% Upside
Morgan Stanley moved Prosus from equal-weight to overweight and set a new price target of €51, down from €57, which still implies about 29% upside from the March 23 closing price of €40.02. The upgrade is grounded in the view that Prosus’s discount to net asset value has widened to the upper bound of its historical range, driven largely by developm…