Golden Cross Emerges For Morgan Stanley Stock On Q4 Earnings Beat Despite Analyst Downgrades
Portfolio Pulse from Surbhi Jain
Morgan Stanley (NYSE:MS) reported Q4 earnings that surpassed consensus estimates for EPS and revenue, despite a profit drop from $2.2 billion in Q4 2022 to $1.5 billion. The stock experienced a Golden Cross, a bullish technical indicator, as its 50-day SMA crossed over the 200-day SMA. However, analysts have given mixed reactions post-earnings, with some downgrades and reduced price targets, although two analysts maintained an Outperform rating with slightly lowered targets.
January 19, 2024 | 3:31 pm
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Morgan Stanley beat Q4 EPS and revenue estimates but saw a profit drop and mixed analyst reactions, with a Golden Cross on its chart indicating bullish sentiment.
The positive earnings beat and the Golden Cross are likely to have a bullish short-term impact on Morgan Stanley's stock. However, the profit drop and analyst downgrades create a mixed outlook, which may temper the extent of the positive impact. The Golden Cross is a strong technical signal that could outweigh the negative aspects in the short term.
CONFIDENCE 75
IMPORTANCE 85
RELEVANCE 100