Morgan Stanley Analysts Slash Their Forecasts After Q3 Earnings
Portfolio Pulse from Lisa Levin
Morgan Stanley reported Q3 earnings with a net profit of $2.4 billion, beating analysts' expectations. However, shares fell 1.5% following the announcement. Analysts from Oppenheimer, BMO Capital, and Evercore ISI Group have lowered their price targets on Morgan Stanley.
October 19, 2023 | 6:22 pm
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NEGATIVE IMPACT
Despite beating Q3 earnings expectations, Morgan Stanley's shares fell and analysts have lowered their price targets.
Morgan Stanley's better-than-expected earnings did not prevent a fall in share price. This, coupled with lowered price targets from analysts, suggests a negative short-term impact on the stock.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100