Morgan Stanley (NYSE: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.
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