RBC Capital analyst Gerard Cassidy maintained a Buy rating on Morgan Stanley (MS) on April 17 and set a price target of $45.00. The company’s shares closed last Friday at $39.09.
According to TipRanks.com, Cassidy is a top 100 analyst with an average return of 20.7% and a 70.4% success rate. Cassidy covers the Financial sector, focusing on stocks such as JPMorgan Chase & Co., Fifth Third Bancorp, and Goldman Sachs Group.
Currently, the analyst consensus on Morgan Stanley is a Moderate Buy with an average price target of $46.00, implying a 16.3% upside from current levels. In a report issued on April 2, Credit Suisse also maintained a Buy rating on the stock with a $46.00 price target.
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Based on Morgan Stanley’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $8.75 billion and net profit of $1.7 billion. In comparison, last year the company earned revenue of $9.69 billion and had a net profit of $2.43 billion.
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Morgan Stanley operates as a global financial services company. The firm provides investment banking products and services to its clients and customers including corporations, governments, financial institutions, and individuals. It operates through the following business segments: Institutional Securities, Wealth Management, and Investment Management. The Institutional Services segment provides financial advisory, capital-raising services, and related financing services on behalf of institutional investors. The Wealth Management segment offers brokerage and investment advisory services covering various types of investments, including equities, options, futures, foreign currencies, precious metals, fixed-income securities, mutual funds, structured products, alternative investments, unit investment trusts, managed futures, separately managed accounts, and mutual fund asset allocation programs. The Investment Management segment provides equity, fixed income, alternative investments, real estate, and merchant banking strategies. The company was founded by Harold Stanley and Henry S. Morgan on September 16, 1935 and is headquartered in New York, NY.
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