Why did Morgans just lower its target price on this ASX 200 stock?
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Macquarie Group Ltd (ASX: MQG) is one of the largest ASX 200 companies by market capitalisation.
In fact, it is the fifth largest ASX listed financial services stock after the big four banks.
However unlike the big four banks, Macquarie is primarily involved in investment and commercial banking and asset management, with Macquarie now in the top 50 global asset managers.
Its stock price is down almost 10% over the last 12 months.
The team out of Morgans released analysis on the ASX 200 stock yesterday, and lowered its target price.
Let’s see what was behind the adjustment.
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Last week, Macquarie released its 1H 26 results.
The company reported a net profit of…
