🚨 Morgan Stanley on ASX Stocks 🧐
🔎 "ASX200 finished 2024 down 15% from peak estimates & now offer flat growth in FY25 & modest single digit growth in outer years"
🔎 "Some residual risk to still weakening aspects of domestic economy & commodity linked earnings remain volatile"
🔎 "ASX earnings [multiples] are still elevated... Earnings gap must be closed before we can see more meaningful upside to our current 8500 XJO target"