Wolfe Research analyst Steven Chubak upgraded Morgan Stanley to Peer Perform from Underperform without a price target post the Q3 report. The midpoint of the firm’s fair value range moved to $79, implying 8% upside to shares, the analyst tells investors in a research note. Following the stock’s recent underperformance, the shares appear fairly valued, with earnings risk better reflected in consensus estimates, says Wolfe.
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