UBS downgraded Morgan Stanley to Neutral from Buy with a price target of $84, down from $110. The analyst states that despite the company’s successful transformation into a wealth management-focused firm with a solid and peer-leading growth profile, Morgan Stanley is confronted with obstacles that include “deposit sorting / yield seeking”, competition for talent, and a challenging revenue environment. Morgan Stanley has executed its transition well, but the stock seems to be “fairly priced” at this point, the firm tells investors in a research note.
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