Morgan Stanley's 'Surprisingly Solid' Quarterly Results Garner Praise From Analysts
Portfolio Pulse from Priya Nigam
Morgan Stanley's shares rose after reporting strong quarterly results. Analysts from UBS and Oppenheimer maintained positive ratings, with price targets of $105 and $110 respectively. The bank's revenue beat was spread across investment banking, trading and other lines, and was further helped by a lower effective tax rate. Net new assets grew by a strong 8%, despite a challenging environment.
July 19, 2023 | 3:34 pm
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Morgan Stanley reported strong quarterly results, leading to a rise in its share price. Analysts from UBS and Oppenheimer maintained positive ratings, with price targets of $105 and $110 respectively.
Morgan Stanley's strong quarterly results exceeded expectations, leading to a rise in its share price. This positive performance, coupled with the maintained positive ratings from UBS and Oppenheimer, indicates a positive short-term impact on the company's stock.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100