UBS raised the firm’s price target on Morgan Stanley (MS) to $140 from $130 and keeps a Neutral rating on the shares. The firm notes Morgan Stanley saw strength across both its WM and IB businesses. Net interest income guidance has stabilized, with stability in Q1 anticipated. Net new assets were sluggish in Q4 but expected to get back into the mid-single-digit range, while loan growth remains robust, UBS says. The firm sees the improving IPO outlook as providing tailwinds to Morgan Stanley’s NNA due to its strong stock plan business.
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