Morgan Stanley

Morgan Stanley (NYSE:MS)  is a leading global financial services firm providing a wide range of investment banking, securities, wealth management and investment management services. With offices in 42 countries, the Firm’s employees serve clients worldwide including corporations, governments, institutions and individuals.

FactSet Likely Faces Deceleration in Organic Annual Subscription Value Growth, Morgan Stanley Says

/ / Financials / ,

FactSet Research Systems (FDS) is likely to see a deceleration in organic annual subscription value, or ASV, growth for the year ending 2024, Morgan Stanley said in a note. The investment firm said it continues to model 6.5% organic ASV growth for the year ending 2024, implying a 60 basis point deceleration from the year ending 2023. “We remain cautious given the challenging market environment and prefer other names across info services with higher EPS growth trading at lower valuation,” Morgan Stanley said. FactSet expects continued pressure in fiscal H1 of 2024 due partly to tighter client budgets but forecasts a recovery in fiscal H2 on better client sentiment, some new business wins and a stronger pipeline in wealth, the report said. “In order to become more constructive, we would like to see evidence of potential ASV inflection before thinking that we have reached the bottom,” Morgan Stanley said. Morgan

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Adobe Systems Faces ‘Impressive’ Generative AI Prospects, Morgan Stanley Says

/ / Technology / ,

Adobe Systems’ (ADBE) Q3 earnings conference call highlighted generative artificial intelligence opportunities for the company, while the quarter’s financial results further proved the “strong momentum” of its core business, Morgan Stanley said Friday in a note. Net new annual recurring revenue from the digital media division topped Street consensus by 12% at $464 million, while Q4 guidance may be “shy of buyside expectations” following recent price increases, Morgan Stanley said. New generative AI product releases are expected to drive a “broader proliferation” of Adobe’s technology, the note said. Adobe reported fiscal Q3 non-GAAP earnings of $4.09 per share, up from $3.40 a year earlier, as revenue increased to $4.89 billion from $4.43 billion. Morgan Stanley said it remains “more confident” in its above-consensus forecast for the company’s fiscal Q4 results. Morgan Stanley reiterated its overweight rating on Adobe with a price target of $660.

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