Morgan Stanley predicts V-shaped recovery of World Economy: "..steepest but also one of the shortest on record"
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Morgan Stanley predicts V-shaped recovery of World Economy: "..steepest but also one of the shortest on record"
Morgan Stanley’s economists see this recession as being “the steepest but also one of the shortest on record,” and its strategists agree there will be a V-shaped recovery.
“The V-shaped recovery in markets is foreshadowing a V-shaped recovery in the economy and earnings. It’s also following the 2009 pattern almost identically in many ways,” they said.
The team raised its base case S&P 500 price target through June 2021 to 3,350 from 3,000, also shifting its bull and bear cases higher — from 3,250 to 3,700 and from 2,500 to 2,900 respectively.
High quality and growth stocks would still do well as the economy recovers but would struggle to keep up with more cyclical pockets of the markets, including automobiles and consumer durables, they said.
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