BofA lowered the firm’s price target on Morgan Stanley (MS) to $144 from $150 and keeps a Buy rating on the shares. The firm expects banks to strike a cautious tone during Q1 earnings calls that kick off on April 11 with JPMorgan (JPM), Wells Fargo (WFC), and Morgan Stanley, emphasizing downside risks driven by policy uncertainties, the analyst tells investors in a preview for the group. While the firm sees it as “too soon to expect meaningful credit cracks,” it sees potential for macro-led reserve builds on increased weighting to downside scenarios, the analyst added.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on MS:
- IonQ vs. Rigetti vs. D-Wave vs. QUBT: Which Pure-Play Quantum Stock Is the Smartest Bet?
- Palantir Gets Hammered by 6% as $50B Defense Cuts & 150x PLTR Valuation Spark Selloff
- Opening Day: CoreWeave opens for trading in biggest tech IPO since 2021
- FDIC clairfies process for banks to engage in crypto-related activities
- Morgan Stanley price target lowered to $130 from $142 at Wells Fargo