The global investment bank Morgan Stanley has recently released a list of top “alpha” stocks in the Asia-Pacific region, which includes a South Korean bank with a potential 28% upside.
What Happened: Morgan Stanley’s list of alpha stocks, released on Apr. 9, includes companies from the Asia-Pacific region, excluding Japan. These stocks, with a market capitalization exceeding $5 billion, were evaluated based on factors such as quality, value, and sentiment, reported CNBC.
One of the top-ranked stock ideas on the list is Hana Financial Group, a South Korean commercial bank. The bank has received an overweight rating from Morgan Stanley, which has also raised its 12-month price target to 71,000 Korean won ($51.2), indicating a potential upside of 28% from its current level.
"Our Korea Financial analyst, Joon Seok … believes large-cap banks are key beneficiaries of the corporate reform theme," the bank said.
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Another stock that Morgan Stanley is bullish on is Novatek Microelectronics, a Taiwanese chipmaker. The bank’s analysts anticipate the stock ...