Following Steadfast Group's investor day, Morgan Stanley is more confident in the multi-year growth opportunity in the US market and upgrades forecasts by between 1.5-3%.

Management also identified potential to acquire $435m in earnings (EBITA) from its current Australasian Network in trapped capital, assuming 30% margin and 20% commission.

Morgan Stanley retains an Equal-weight rating and increases the target to $6.17 from $6.10. Industry view: In-Line. 

Sector: Insurance.

Target price is $6.17.Current Price is $6.07. Difference: $0.10 - (brackets indicate current price is over target). If SDF 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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