Morgan Stanley

MS · NYSE

$180.40+$1.93 (+1.08%)TodayMarket closed · Oct 20, 7:59 PM ET

Prev close $178.47

MS analyst rating

HoldConsensus of 19 analysts over the last 12 months. 42% rate it a buy.

Strong buy0
Buy8
Hold10
Underperform1
Sell0

12-month price target · 23 analysts

Average $242.65 (+34.5% upside)

Low: $200.99
Now: $180.40
High: $275.10

Upgrades and downgrades

The latest rating actions, newest first

MS analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
BMO Capital	Oct 19, 2026	Maintains	Outperform	$215.00 → $210.00	56%
JP Morgan	Oct 16, 2026	Maintains	Neutral	$195.00 → $198.00	79%
Citigroup	Oct 15, 2026	Maintains	Neutral	$210.00 → $190.00	40%
RBC Capital	Oct 15, 2026	Maintains	Sector Perform	$243.00 → $195.00	67%
TD Cowen	Oct 15, 2026	Maintains	Hold	$210.00 → $205.00	50%
Wells Fargo	Oct 15, 2026	Maintains	Equal-Weight	$223.00 → $217.00	61%
Evercore ISI Group	Oct 15, 2026	Maintains	Outperform	$215.00 → $205.00	62%
Keefe, Bruyette & Woods	Oct 15, 2026	Maintains	Outperform	$250.00 → $230.00	29%
TD Cowen	Oct 8, 2026	Initiates	Hold	$210.00	50%
BMO Capital	Oct 6, 2026	Maintains	Outperform	$250.00 → $215.00	56%

The case for and against

Updated Oct 17, 2026

Bull case

Morgan Stanley is attractive because its earnings base is increasingly anchored in recurring wealth and asset management fees, with Wealth Management contributing 45% of 3Q26 revenues at a 30.4% pre-tax margin and client assets reaching $9.3 trillion at the end of 2025. It also retains meaningful upside from its institutional franchise, where 3Q26 revenues rose 17.7% year over year, including a 40.9% surge in Equities and a 29.7% increase in advisory revenues, showing that legacy businesses still compound in favorable markets. With more than $400 billion in customer deposits and a balanced business mix that supports durable earnings, the company appears well positioned to convert cyclical tailwinds into sustained growth and capital efficiency gains.

Bear case

Morgan Stanley is vulnerable to a tougher macro backdrop because its earnings still depend heavily on equity markets, capital markets activity, and fee-rich businesses that can weaken quickly when client risk appetite fades. The firm’s 3Q26 update showed mixed momentum, with FICC down about 7% y-o-y and 18% L/Q and total Markets revenues down about 9% L/Q, reinforcing sensitivity to trading and underwriting volatility despite its $9.3 trillion in client assets and more than $400 billion in deposits. Regulatory uncertainty, interest-rate swings, credit losses, and margin pressure further cloud the outlook, leaving even modest EPS gains in 2026E and 2027E vulnerable to downside if conditions deteriorate.

Information on this page is provided for informational purposes only and is not a recommendation to buy, sell or hold any security. Investing involves risk, including possible loss of principal. Market data is delayed at least 15 minutes and is provided without warranty. Analyst ratings, price targets and company data come from third-party sources. Past performance does not guarantee future results.