Morgan Stanley downgraded to Hold at Odeon after ‘disappointing’ results

Odeon Capital downgraded Morgan Stanley to Hold from Buy with a $79.15 price target after the company reported third quarter results that the firm said “were disappointing.” The company “lost direction in 2022, and has been floating without clear purpose since then,” argues the firm, which adds that investors’ money “would be better invested elsewhere… until this firm clearly defines its leadership and purpose.”