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Morgan Stanley Analysts Slash Their Forecasts After Q3 Earnings

Published 19/10/2023, 19:22
© Reuters.  Morgan Stanley Analysts Slash Their Forecasts After Q3 Earnings
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Benzinga - by Lisa Levin, Benzinga Editor.

Morgan Stanley (NYSE: MS) reported upbeat earnings for its third quarter.

Morgan Stanley posted quarterly net profit of $2.4 billion, or $1.38 per diluted share, compared to a net income of $2.6 billion or $1.47 in the prior year. Analysts were expecting earnings of $1.28 per share. The company reported revenues of $13.27 billion, beating the consensus of $12.58 billion.

Morgan Stanley shares fell 1.5% to trade at $73.74 on Thursday.

These analysts made changes to their price targets on Morgan Stanley following earnings announcement.

  • Oppenheimer cut the price target on Morgan Stanley from $100 to $98. Oppenheimer analyst Chris Kotowski maintained an Outperform rating.
  • BMO Capital lowered the price target on Morgan Stanley from $102 to $101. BMO Capital analyst James Fotheringham maintained an Outperform rating.
  • Evercore ISI Group slashed the price target on Morgan Stanley from $102 to $97. Evercore ISI Group analyst Glenn Schorr maintained an Outperform rating.
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Latest Ratings for MS

DateFirmActionFromTo
Jan 2022Odeon CapitalDowngradesBuyHold
Jan 2022UBSMaintainsBuy
Jan 2022BarclaysMaintainsOverweight
View More Analyst Ratings for MS

View the Latest Analyst Ratings

© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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