Morgan Stanley (NYSE:MS) gained in pre-market trading after the bank announced better-than-expected Q1 results. In Q1, the bank generated revenues of $15.1 billion, marking a 4.1% year-over-year increase and surpassing consensus estimates of $14.4 billion.
Morgan Stanley reported earnings of $2.02 per diluted share in the first quarter, compared to $1.70 per diluted share in the same period a year ago. This exceeded analysts’ expectations of $1.67 per diluted share.
The bank’s investment banking revenues surged by 16% year-over-year to $1.44 billion, while its wealth management business generated revenues of $6.9 billion in the first quarter.
What is the Target Price for MS?
Analysts are cautiously optimistic about MS stock, with a Moderate Buy consensus rating based on eight Buys and eight Holds each. Year-to-date, MS stock has declined by more than 5%, and the average MS price target of $98.60 implies an upside potential of 13.4% from current levels. These analyst ratings are likely to change following Morgan Stanley’s Q1 results today.
