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    Morgan Stanley (MS) Posts Record Wealth Revenue, Is It Still Undervalued?

    Simply Wall St·11/08/2026 09:29:14
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    Morgan Stanley (MS) has paired record third quarter Wealth Management revenues with active use of DTCC's Tokenization Service for U.S. equities and Treasuries, giving investors fresh information on both earnings strength and market infrastructure positioning.

    Recent moves in Morgan Stanley's share price tell a mixed story. The stock has eased over the near term, with the 30 day share price return down 4.52% and the 90 day share price return down 15.74%. However, the 1 year total shareholder return of 14.29% and 3 year total shareholder return of about 1.6x highlight strong compounding for long term holders, suggesting recent weakness reflects shifting views on risk and interest rates rather than a clear break in the longer trend.

    Compare Morgan Stanley's mix of record Wealth Management revenues and tokenization progress with other large financials by scanning our curated list of list of solid balance sheet and fundamentals (25 results)

    After a sharp pullback, alongside solid Wealth Management momentum and early tokenization adoption, is Morgan Stanley still priced for opportunity, or has the recent slide already balanced the risk and reward for new money?

    Most Popular Narrative: 15% Undervalued

    Morgan Stanley's most followed valuation story points to a fair value of $213.59 against a last close of $181.44, which frames recent share price weakness as a potential discount rather than a verdict on the franchise.

    The numbers now imply a share price that, in this narrative, treats Morgan Stanley as undervalued, given record firmwide profitability, sizeable CET1 capital accretion, and growing exposure to long-duration wealth, AI financing, and private markets revenue streams.

    See why 86 investors see Morgan Stanley as 15% undervalued.

    Result: Fair Value of $213.59 (UNDERVALUED)

    Still, two pressure points could shake this Morgan Stanley narrative: fee compression as more clients favour low cost ETFs, and tighter rules that redirect surplus capital away from buybacks.

    Find out about the key risks to this Morgan Stanley narrative.

    Next Steps

    Feeling torn between the upbeat valuation story and the very real questions on fees and capital rules is natural. Act on that tension by reviewing the underlying numbers, weighing the risks against the potential upsides, and grounding your own thesis in the 3 key rewards and 1 important warning sign.

    Searching Beyond Morgan Stanley?

    If Morgan Stanley has sharpened your attention on risk, value, and income, do not stop here. Broaden your opportunity set with focused stock ideas built from clear data.