We're lowering our price target on Morgan Stanley as shares tumble on earnings results
The bank reported better-than-expected third-quarter results Wednesday, even as investors were disappointed over its wealth management business.
Morgan Stanley (MS), a global financial services company, reported better than expected third-quarter results on Wednesday. However, investor disappointment in its wealth management division and the continued slump in investment banking affected shares. We therefore lowered our price target for the Club holding.