Morgan Stanley (MS) PT Raised to $184 at KBW; 'A Premium Reaction to a Premium Quarter'

Keefe, Bruyette & Woods analyst Christopher McGratty raised the price target on Morgan Stanley (NYSE: MS) to $184.00 (from $176.00) while maintaining a Outperform rating.

The analyst commented: "A Premium Reaction to a Premium Quarter; Exceptionally strong quarter across the franchise with momentum in IB, Trading, and WM/IM collectively driving a 23.7% ROTCE. Rightfully, the stock rallied 5%, which maps to our EPS revisions for 2026E (+5%) and 2027E (+4%) with our revised model factoring in ~20% ROTCE in 2026/2027E even with a building excess capital position. Our positive call on MS continues to be rooted in a structurally higher ROTCE and more durable business model, with emerging deregulatory benefits providing addition flexibility - all of which warrant a premium valuation."

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