Oppenheimer analyst Chris Kotowski downgraded Morgan Stanley to Perform from Outperform. The firm acknowledges the company reported very solid Q2 EPS of $1.82 versus its $1.58 and consensus $1.65. The beat was driven by strong reported revenues of $15.0B versus Oppenheimer’s $14.0B estimate. The capital markets rebound that the firm has been looking for seems to be materializing, but it still thinks there is a long way to go to full normalization. With that said, Oppenheimer has normalization by Q4 built into its models and thus only made relatively minor increases in its 2025 estimate.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on MS:
- Shopify Stock (SHOP) Gains as BofA Upgrades Rating
- Stock Market News Today, 7/16/24 – S&P 500 Rises on Solid Retail Data
- MS Earnings: Morgan Stanley Slumps Despite Better-than-Expected Q2 Results
- Options Volatility and Implied Earnings Moves Today, July 16, 2024
- Notable companies reporting before tomorrow’s open