Morgan Stanley Investment Management Earnings Outlook

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  • #20472
    ThePitBoss
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    Morgan Stanley report first quarter earnings before the…

    [article]1469[/article]

    #20512
    ThePitBoss
    Participant

    Morgan Stanley (NYSE: MS) downgraded to Neutral from Buy at Citigroup,

    MS rose 2.6% to $48.26 on Wednesday after earnings and the 52-week range is $36.74 to $55.64.

    “Though we believe MS has very high quality franchises and has the potential to continue to gain market share, we’d rather be on the sidelines in the near-term,” Citi analyst Keith Horowitz said in a note.

    Citi raised up earnings estimates for Morgan Stanley after its solid performance in the first quarter. The 2019 EPS forecast went up 30 cents to $5.05, and $5.55 for 2020.

    “Strong 1Q19 results were driven by FICC and expense management,” Horowitz said. “Global Wealth Management beat expectations and [management] reiterated guidance for mid-single [net interest income] digit growth in 2019, in contrast to others in the peer group which has generally tempered NII expectations during this earnings season.”

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