Goldman Sachs analyst Richard Ramsden lowered the firm’s price target on Morgan Stanley to $104 from $105 but keeps a Buy rating on the shares. The company’s Q4 results appeared slightly better, with better flows in global wealth management, better net interest income, and IBanking activity being the major drivers, the analyst tells investors in a research note. While the outlined nearer-term mid-20s % wealth pre-tax margin guidance was weaker than consensus expectations, driving the stock’s selloff, the Street is missing some reasons to be positive post results, including a stronger net interest income guide, resilient fee-based flow trends, and strong investment banking trends, the firm added.
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