Morgan Stanley price target raised to $101 from $97 at Oppenheimer

Oppenheimer raised the firm’s price target on Morgan Stanley to $101 from $97 and keeps an Outperform rating on the shares. The firm notes Morgan Stanley put up a near-perfect Q1 2024 print that included most all major revenue and expense categories better-than-expected. While Oppenheimer says it wouldn’t jump to raising remaining quarters and 2025 estimates to match that level, the firm positively views the now broader-based trends and generally positive commentary on backlogs.