BMO Capital analyst James Fotheringham raised the firm’s price target on Morgan Stanley to $118 from $115 and keeps an Outperform rating on the shares. The analyst cites the company’s broad-based Q1 earnings beat and constructive outlook for capital markets, along with a forceful defense of its anti-money-laundering controls. BMO also raises its FY24 EPS view on Morgan Stanley to $6.85 from $6.41 after the higher than previously-modeled Institutional Securities segment revenues, higher Wealth Management segment margins, and lower non-compensation costs.
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