Selloff or Market Correction? Either Way, Here's What to Do NextSee Overvalued Stocks

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
MS
-

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.
Also Check This Out: Top 3 Financial Stocks You'll Regret Missing In Q4

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.

Read the original article on Benzinga

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.