Morgan Stanley Analysts Optimistic After Q3: Fed Rate Declines ‘Should Drive Robust Growth’ In Asset Management
Morgan Stanley (NYSE:MS) stock received price target increases from analysts after beating Street estimates and showing strength across multiple company segments in third-quarter financial results.
The Morgan Stanley Analysts:
- Barclays analyst Jason Goldberg maintained an Overweight rating and raised the price target from $121 to $135.
- Bank of America analyst Ebrahim Poonawala reiterated a Buy rating and raised the price target from $120 to $135.
Barclays on Morgan Stanley: The financial services and investment bank saw markets, investment banking, wealth management and investment management all exceed forecasts, Goldberg said in a new investor note.
The analyst highlighted company commentary that said pipelines were “healthy and diverse.”
“Corporate activity is showing momentum, while sponsors desire to transact is ‘steadily materializing,'” Goldberg said.
The analyst noted strong growth in both wealth management and investment management compared to the second quarter.
“Reflecting 3Q24’s strength and revenue momentum …
Full story available on Benzinga.com
