** Morgan Stanley says Propel Funeral Partners' PFP.AX structural growth, exposure to non-discretionary spend and capacity to raise prices are likely to be in demand
** Says the Australian funeral services provider offers exposure to structural long-term growth in death rates and ability to raise prices at least in line with inflation
** Brokerage says co invests in its facilities, vehicles, people and systems
** Expects PFP to undergo consensus upgrades near term; adds acquisition multiples are stable and attractive
** An attractive feature of PFP is the deep management and board alignment — Morgan Stanley
** PFP shares currently down 1%, in line with broader benchmark fall of 1.2%
** Stock down 12.4% YTD
(Reporting by Rishav Chatterjee in Bengaluru)
((Rishav.Chatterjee@thomsonreuters.com))
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