Morgan Stanley's Net Interest Income To Slump 14% In FY24: Analyst Cautions
Portfolio Pulse from Nabaparna Bhattacharya
BMO Capital Markets analyst James Fotheringham has reiterated the Outperform rating on Morgan Stanley (NYSE:MS), but trimmed the price target to $101 from $102. Despite Morgan Stanley's Q3 beat, Fotheringham lowered estimates due to lower Net Interest Income (NII) and higher credit costs. The analyst also raised provision forecasts due to higher credit losses on office CRE loans. Morgan Stanley's shares are trading lower by 1.82% to $73.52.
October 19, 2023 | 6:33 pm
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NEGATIVE IMPACT
Morgan Stanley's price target has been trimmed to $101 from $102 by BMO Capital Markets analyst due to lower NII and higher credit costs. The shares are currently trading lower by 1.82% to $73.52.
The analyst's decision to lower the price target for Morgan Stanley due to lower NII and higher credit costs is likely to negatively impact the stock price in the short term. The market has already reacted to this news, with the shares trading lower by 1.82%.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100