Morgan Stanley Analysts Slash Their Forecasts After Q3 Earnings

Morgan Stanley 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