RBC Capital Markets analyst Gerard Cassidy raised the price target of Morgan Stanley (NYSE:MS) to $108 from $91, maintaining a Sector Perform rating following strong second-quarter FY24 results. Yesterday, the bank reported EPS of $1.82, beating the consensus of $1.65, and sales of $15.02 billion, exceeding the consensus of $14.30 billion. The analyst writes that the bank’s diversified business model, including Institutional Securities, Wealth Management, and Investment Management, drove strong quarterly results with mid-teens ROTCE, led by its premier investment banking and trading operations. If market conditions remain favorable through the latter half of 2024, Morgan Stanley is poised to sustain these advantages, buoyed by its strong presence ...