Morgan Stanley (MS) Price Target Raised by $18

Morgan Stanley (NYSE:MS) is included among the 7 Best Fortune 500 Dividend Stocks to Invest in Now.

Morgan Stanley (MS) Price Target Raised by $18

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Morgan Stanley (NYSE:MS) operates as a global financial institution, with businesses spanning investment banking, wealth management, and investment management.

On December 17, Keefe Bruyette raised its price target on Morgan Stanley (NYSE:MS) to $202 from $184 and kept a ‘Market Perform’ rating on the stock. The update followed recent conferences and meetings with management, which led the firm to revise its estimates.

A few days later, a December 19 report from Reuters said Morgan Stanley is shaping up as a leading contender for a major role in SpaceX’s highly anticipated initial public offering. People familiar with the matter said the bank’s long-standing relationship with CEO Elon Musk gives it an advantage as decisions take shape.

The IPO selection process, described as a ‘bake-off,’ is still ongoing. A small group of banks, including Morgan Stanley, Goldman Sachs, and JPMorgan, is competing for roles. Sources cautioned that there is no guarantee Morgan Stanley will land the sought-after ‘lead left’ underwriting position.

Musk’s relationship with Morgan Stanley (NYSE:MS) stretches back at least 15 years, which is why many see the firm as the front-runner to lead the underwriting syndicate. That said, no final decisions have been made, and discussions remain fluid. The sources spoke on condition of anonymity due to the confidential nature of the talks. Morgan Stanley, Goldman Sachs, and JPMorgan declined to comment, and SpaceX did not respond to a request for comment.

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