Investors may not get much more multiple expansion out of Morgan Stanley, say analysts at Citigroup, who downgraded shares a day after upbeat results from...
Morgan Stanley was at the receiving end of an analyst downgrade, a day after forecast-beating results that sent the stock soaring.
The Wall Street bank on Tuesday reported an adjusted profit that fell to $1.26 per... Morgan Stanley was at the receiving end of an analyst downgrade, a day after forecast-beating results that sent the stock soaring. The Wall Street bank on Tuesday reported an adjusted profit that fell to $1.26 per share, but still beat forecasts. Revenue fell to $12.75 billion, surpassing estimates of $12.54 billion for the fourth quarter. The stock closed the day up nearly 6% to $97.08.
But they warned that banks face a “fundamentally challenging” 2023 due to compression in net interest margin — how much the bank is earning on loan interest versus the interest it’s paying on deposits — and potential credit worries.
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