Morgan Stanley advises companies and governments on financing and manages investments for institutions, individuals, and families. Its business combines investment banking and securities trading with wealth management and an asset-management division that invests across public and private markets. Bankers arrange stock and bond sales and advise on mergers, while advisors build client portfolios and fund managers invest money under agreed strategies. The firm earns advisory and management fees, trading revenue, commissions, and interest from lending and deposits. Morgan Stanley was founded as a partnership in 1935 and is headquartered in New York City.
Company Size
10,001+
Company Stage
IPO
Headquarters
New York City, New York
Founded
1935
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Morgan Stanley analyst Adam Jonas has reiterated his "Overweight" rating on SpaceX with a $300 price target, calling the stock "cheap and getting cheaper" when adjusted for growth. Valued at $2.26 trillion, SpaceX operates three main segments: rocket launches, Starlink connectivity across 170 countries, and AI computing infrastructure. SpaceX CFO Bret Johnsen stated the company expects to hit $100 billion in annualised revenue by year-end. A new hosting deal starting December adds roughly $13 billion annually. The firm aims to expand AI computing capacity from 2 gigawatts currently to 5-10 gigawatts next year. Jonas values SpaceX's space and connectivity businesses at $127 per share, suggesting investors pay little for its AI operations. Of 37 analysts covering the stock, 24 rate it "Strong Buy" with an average price target of $221.17.
Morgan Stanley upgraded Wells Fargo to buy from hold on Monday, setting a $102 price target that implies 27% upside. The bank is scheduled to report third-quarter earnings next Tuesday. Wells Fargo shares are down roughly 12% this year, lagging major peers. The underperformance stems partly from margin pressures after the Federal Reserve lifted a $1.95 trillion asset cap in June 2025. Wells Fargo expanded rapidly using pricier wholesale funding, which hurt profitability. Morgan Stanley expects margins to improve as balance-sheet growth moderates and the bank shifts toward cheaper deposit funding. Investment banking also presents upside: Wells Fargo has hired 150 senior bankers over four years and doubled fee revenue since 2022, yet still lags peers. The firm forecasts return on tangible common equity will reach 18% by 2028.
Chesapeake Utilities Corporation announced on 1 October 2026 that it has launched an at-the-market equity offering programme valued at up to $225 million in common stock. The company executed an Equity Distribution Agreement on 30 September 2026. Six financial institutions have been appointed as managers for the offering, including Barclays Capital, Morgan Stanley, and RBC Capital Markets. The agreement also permits Chesapeake Utilities to enter forward sale agreements with five forward purchasers. Managers will earn commissions capped at 2% of the gross sales price per share. Net proceeds from the offering will be used for general corporate purposes, including capital expenditures, debt repayment, acquisitions, investments in subsidiaries, and working capital needs. The offering is registered under a shelf registration statement on Form S-3ASR.