Morgan Stanley is expected to report Q3 2026 revenue of $19.63 billion and EPS of $2.83, with its current share price of $190.02 trading well below the average analyst price target of $242.65.
The central focus for investors is the sustainability of Wealth Management net new assets (NNA) following the record $148 billion in inflows reported in the previous quarter.
While the firm has achieved record results recently, analysts are monitoring for a potential normalization of trading activity and the conversion of a robust investment banking pipeline into realized fees. Continued growth in fee-based assets remains crucial to maintaining the firm's premium valuation relative to its banking peers.