MS MORGAN STANLEY

MIXED Impact: 2/10 ANALYST-UPGRADE
Processed 1mo ago SEC analyst-MS-wolferes-20251124
9 firms acted on MS: Wolfe Research, BMO Capital, Keefe, Bruyette & Woods, HSBC, Wells Fargo, HSBC, Goldman Sachs, Wells Fargo, Oppenheimer
Final — all horizons settled through T+60d
MS ▲ +2.51% at T+60d
NEUTRAL call ✓ call won +2.51% · α vs SPY +0.49% · entry $162.76 → $166.85
Last close $212.24 (close Jun 8) · +30.40% from $162.76 entry
Entry anchored
Nov 24, 10:27 AM ET
via Databento tick
T+1d
+1.63%
call +1.63% · α +0.71%
$165.42
settled 7mo ago
T+5d
+3.86%
call +3.86% · α +1.97%
$169.04
settled 6mo ago
T+20d
+10.25%
call +10.25% · α +7.39%
$179.44
settled 6mo ago
T+60d
+2.51%
call +2.51% · α +0.49%
$166.85
settled 4mo ago

Price Chart

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Executive Summary

Wolfe Research upgraded Morgan Stanley from Peer Perform to Outperform on 2025-11-24, part of a cluster of 9 firms adjusting ratings on the same day. Wolfe's track record is modest at 52% accuracy on 451 calls with a 4.4% average return. Consensus on MS is split: 52% Buy (7 Strong Buy, 10 Buy) and 48% Hold (16 Hold) from 33 analysts, with no Sell ratings. The mean price target is $200.19, implying 5% upside from the current $190.59, with targets ranging from $165 to $230. EPS revisions are strongly positive — 19 upward vs 1 downward in the last 30 days for the current fiscal year. However, insider sales total over $5.5 million in April 2026, short interest is elevated at 56.8% of float, and institutional moves show both new large positions and a full exit by Norges Bank. The divergence between bullish analyst signals and bearish sentiment from insiders and short sellers creates a mixed backdrop.

Impact Score

Base Score
1/7
LLM Adjustment
+1
Final Score
2/10

Consensus & Targets

Buy / Strong Buy
17 (52%)
Hold
16
Sell / Strong Sell
0
Total Analysts
21
Mean PT
$200.19
Median PT
$200.00
High PT
$230.00
Low PT
$165.00
Current Price
$190.59
Implied Upside
+5%

Among 33 analysts covering MS, the consensus breakdown is: 7 Strong Buy, 10 Buy, 16 Hold, 0 Sell, and 0 Strong Sell. This represents 52% Buy-side (including Strong Buy), 48% Hold, and no bearish calls. The consensus is tilted bullish but with a significant hold contingency.

The mean price target among 21 analysts is $200.19, with a median of $200.00. The high target is $230 (Barclays), the low is $165 (JP Morgan). At the current price of $190.59, the implied upside to the mean is 5.0%. Wolfe's Outperform rating aligns with the bullish side of consensus, though no PT was provided.

Recent Analyst Activity

DateFirmActionRatingPrice Target
2026-04-16 Barclays maintain Overweight $230.00
2026-04-16 RBC Capital reiterate Sector Perform $207.00
2026-04-16 Citizens reiterate Market Perform
2026-04-16 Wells Fargo maintain Equal-Weight $200.00
2026-04-16 Keefe, Bruyette & Woods maintain Outperform $218.00
2026-04-16 Goldman Sachs maintain Neutral $205.00
2026-04-16 B of A Securities maintain Buy $225.00
2026-04-07 UBS upgrade Buy $196.00
2026-04-06 Evercore ISI Group maintain Outperform $190.00
2026-03-10 JP Morgan maintain Neutral $179.00

In the last 30 days, analyst activity shows 1 upgrade (Wolfe) and 0 downgrades. EPS revisions are strongly positive: current fiscal year estimates have seen 19 upward revisions and only 1 downward in 30 days. The current year EPS estimate has risen from $11.36 to $11.84 over the past month, indicating growing confidence in earnings.

Firm Track Record — Wolfe Research

Wolfe Research accuracy: 52% on 451 calls | avg return: 4.4%

Industry benchmark: mean 51% ± 11%. Top tier: ≥61% (mean + 1σ). Based on 15 firms with ≥5 scored calls.

FirmAccuracyCallsAvg Returnvs Average
BMO Capital 100% 3/3 16.6% top tier
Jefferies 100% 3/3 18.4% top tier
RBC Capital 100% 3/3 10.8% top tier
JMP Securities 100% 5/5 18.1% top tier
Evercore ISI Group 86% 6/7 8.9% top tier
Goldman Sachs 86% 6/7 19.8% top tier
Citigroup 83% 5/6 12.4% top tier
Wells Fargo 75% 6/8 17.9% top tier
HSBC 75% 3/4 9% top tier
UBS 75% 3/4 6.1% top tier

Wolfe Research has a 52% accuracy rate on 451 rated calls, with an average return of 4.4%. This is below the top-tier firms covering MS, such as BMO Capital, Jefferies, and RBC Capital (all 100% on 3-5 calls) and Goldman Sachs (86% on 7 calls). Wolfe's performance is in line with the broader pool of covering analysts but not standout.

Earnings Estimates

Next earnings: Jul 14, 2026

PeriodEPS Est.EPS RangeRevenueRevisions (7d)
0y $11.84 $11.42 — $12.42 $77.3B ↑2 ↓0
0q $2.77 $2.58 — $3.02 $19.1B ↑2 ↓0
+1y $12.70 $11.34 — $13.79 $81.1B ↑3 ↓0
+1q $2.92 $2.65 — $3.25 $19.1B ↑2 ↓0

Cross-Platform Signals

Insider Trades (90d)
0 buys / 4 sells
Institutional
NORGES BANK — new
Institutional
NORGES BANK — exit (-100%)
Institutional
TWO SIGMA INVESTMENTS, LP — doubled (150.3%)
Short Interest
Short: 1,015,613 | Exempt: 2,497 | TRF Vol: 1,788,863 | Short Ratio: 56.8% | Off-exchange volume (dark pool + OTC)

Insiders have sold aggressively: four transactions in April 2026 totaling over $5.5 million, including a $2.8M sale by director Daniel Simkowitz. No congressional trades were recorded. Institutional activity is mixed — Norges Bank opened a new $2.7B position while also filing a full exit from a similar-sized position; Two Sigma Investments doubled its stake (up 150%). Short interest is 56.8% of float, very high, signaling heavy bearish positioning. This diverges sharply from the bullish analyst upgrade.

Actionable Insight

The analyst cluster upgrade adds to positive momentum, but heavy insider selling and extreme short interest suggest caution. Traders should watch for a potential short squeeze if earnings (due July 14, 2026) exceed expectations, but the divergence warrants waiting for price confirmation before taking a directional stance.

Documents Analyzed

Report based on filing metadata.

7 reports for MS
Performance horizon

Track record builds as more directional reports settle.

Filters
Rows
Reports for MS — sortable, filterable
Type Now
Jun 6, 2026
3d ago
ANALYST-UPGRADE
MIXED ★ 3/10
$168.36 $189.21▲ +12.38%▲ +2.60%$212.24 (+26.07%)
Jun 5, 2026
5d ago
Court Ruling
NEUTRAL ★ 2/10
$218.17 awaiting T+20awaiting T+20$212.24 (−2.72%)
May 31, 2026
9d ago
ANALYST-UPGRADE
BULLISH ★ 1/10
$162.76 $179.44▲ +10.25%▲ +7.39%$212.24 (+30.40%)
May 7, 2026
4w ago
ANALYST-UPGRADE
BULLISH ★ 4/10
$168.36 $189.21▲ +12.38%▲ +2.60%$212.24 (+26.07%)
May 1, 2026
5w ago
ANALYST-UPGRADE
MIXED ★ 2/10
$162.76 $179.44▲ +10.25%▲ +7.39%$212.24 (+30.40%)
Apr 16, 2026
7w ago
Insider Cluster
MIXED ★ 6/10
$186.67 $193.83▲ +3.84%▼ −1.98%$212.24 (+13.70%)
Apr 16, 2026
7w ago
Insider Cluster
NEUTRAL ★ 5/10
$186.67 $193.83▲ +3.84%▼ −1.98%$212.24 (+13.70%)
Showing 7 of 7

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