Initiated
2025-10-03
BMO Capital Markets
RatingOutperform
From—
Target$180
From—
BMO Capital initiated Morgan Stanley at Outperform ($180) in October. Keefe Bruyette upgraded to Outperform in July. Wells Fargo upgraded to Equal Weight from Underweight. Consensus is Buy at $119 average target — wealth management strength and capital markets recovery driving the thesis.