Morgan Stanley Reports Second Quarter 2017
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July 19, 2017 3:27 PM EDT
Credit Suisse analyst Susan Roth Katzke raised her price target on Morgan Stanley (NYSE: MS) to $49.00 (from $47.00) while maintaining a Neutral rating following results.
Katzke notes the company better revenue growth in each of the bank's major business lines and continued evidence of... More
July 19, 2017 6:55 AM EDT
Morgan Stanley (NYSE: MS) reported Q2 EPS of $0.87, $0.11 better than the analyst estimate of $0.76. Revenue for the quarter came in at $9.5 billion versus the consensus estimate of $9.09 billion.
James P. Gorman, Chairman and Chief Executive Officer, said, Our second quarter results demonstrated the resilience of our franchise in a subdued trading environment. Our wealth management business produced a 25% margin and our strong investment banking results attest to the diversity of our global business. We continue to deliver on our strategic goals and grow shareholder returns.
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