Fifty One Capital updated report, page-54

I respectfully disagree Nano.

IMO I would dismiss it. I've quite often found MS's reports to be questionable or wrong. I personally dont hold them in high regard.

Example: Google - Morgan Stanley Lithium.

There views on Lithium have been wrong and will continue to be wrong as the next 12-24 months unfold. There are plenty of articles challenging MS's report on Lithium.

And they regularly have to admit to being wrong. Few examples:

2018 - Apple, US Bond yields, Lithium

2017 - stated that EV vehicles will takeover (then a yr later claimed lithium going down - doesnt make sense)

- Gave $70m bad tax advice blunder

2016 - Valeant Pharma

2015 - Energy stocks and Tesla

2014 - Qantas

Plus they aren't independent at all. Google: 18-247MR ASIC requires Morgan Stanley

IMHO. DYOR.