Investment banker Morgan Stanley ( MS ) on Tuesday saw its price target and earnings estimates lower by analysts at Goldman Sachs.
The firm said it now expects MS shares to reach $20, still suggesting a 25% upside to the stock's Friday closing price of $15.96.
Goldman also maintained its "Neutral" rating on MS but lowered its earnings estimates, citing a worsening credit environment.
Morgan Stanley shares fell 71 cents, or -4.5%, in premarket trading Tuesday.
The Bottom Line
Shares of Morgan Stanley ( MS ) have a 1.25% dividend yield, based on Friday's closing stock price of $15.96. The stock has technical support in the $14-$15 price area. If the shares can firm up, we see overhead resistance around the $18 price level.
Morgan Stanley ( MS ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 2.9 out of 5 stars.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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