Morgan Stanley Closes Consumer Loan Securitization, Updates Veeva PT to $205 after 45% Plunge
Morgan Stanley Investment Management closed a revolving and rated private securitization backed by consumer loans. Morgan Stanley analysts upgraded Veeva Systems to equal-weight and cut their price target to $205 from $222 after a 45% share decline to a ten-year low on an EV/free cash flow basis.
1. Consumer Loan Securitization Closed
Morgan Stanley Investment Management closed a revolving and rated private securitization backed by consumer loans, enhancing its non-bank funding capabilities. The transaction transfers consumer credit exposures off the balance sheet and secures favorable financing costs. This move supports capital and liquidity management ahead of broader financing needs.
2. Veeva Systems Upgraded to Equal-Weight
Morgan Stanley’s research team moved Veeva Systems to an equal-weight rating after the stock fell about 45% from its October peak. The price target was lowered to $205 from $222 as the company’s EV to free cash flow ratio reached a ten-year low. While a $2 billion share buyback and $6.6 billion cash buffer provide support, AI disruption and the loss of key pharmaceutical clients continue to weigh on outlook.