Morgan Stanley (NYSE:MS) shares tanked in early trading on Thursday, despite the company reporting upbeat first-quarter results on Wednesday.
• Morgan Stanley stock is facing resistance. What is going on with MS?
Here are the key analyst insights:
- RBC Capital Markets analyst Gerard Cassidy maintained a Sector Perform rating and price target of $207.
- Citizens JMP Securities analyst Devin Ryan reiterated a Market Perform rating on the stock.
Check out other analyst stock ratings.
RBC Capital Markets: Morgan Stanley delivers a home run with “a record quarter by virtually every measure,” Cassidy said in a note. The company’s earnings grew 32% year-on-year in the first quarter to $3.43 per share, while net revenues grew 16% year-on-year to a record high of $20.6 billion, he added.
Reported ROTCE (return on tangible common equity) expanded by 410 …