Morgan Stanley MS reported better-than-expected first-quarter results.
Morgan Stanley reported Q1 net revenues of $14.5 billion, down from $14.8 billion a year ago, exceeding the consensus of $13.9 billion. Net income declined to $3.0 billion from $3.7 billion a year ago, with EPS of $1.70 beating the consensus of $1.62.
Morgan Stanley shares gained 0.8% to $91.18 on Thursday.
These analysts made changes to their price targets on Morgan Stanley following earnings announcement.
- BMO Capital cut the price target on Morgan Stanley from $108 to $104. BMO Capital analyst James Fotheringham maintained an Outperform rating.
- Oppenheimer raised the price target on Morgan Stanley from $95 to $103. Oppenheimer analyst Chris Kotowski maintained the stock with an Outperform rating.
- Citigroup cut the price target on Morgan Stanley from $100 to $95. Citigroup analyst Keith Horowitz maintained the stock with a Neutral.