UBS analyst concludes that Morgan Stanley is ‘fairly priced’ at current levels
Morgan Stanley’s stock moved into the red on Wednesday while other bank stocks rose, as UBS cut its rating on the megabank to neutral from buy.
He also reduced his third-quarter earnings estimate for Morgan Stanley by 17% to $1.26 a share, which is below the current FactSet consensus forecast of $1.31 a share. While the bank has successfully transformed to a focus on wealth management along with a solid wirehouse peer-leading growth profile, it’s facing other challenges, he said.
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