Morgan Stanley’s (MS) New Bond Issuances Might Change the Case for Investing in the Firm

• In late October 2025, Morgan Stanley announced several fixed-income offerings, including fixed-rate corporate notes with maturities ranging from 2031 to 2040 and completed offerings totaling more than US$6.9 million in principal amount. These developments coincided with a period of strong quarterly earnings growth, favorable analyst sentiment, and ongoing demand for the firm's securities.
• This wave of bond issuances reflects Morgan Stanley's ability to access capital markets at competitive rates, supporting its operational flexibility and potential for future growth initiatives.
• With Morgan Stanley raising fresh capital through new fixed-income offerings, we'll explore how this supports its growth-focused investment narrative.

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Morgan Stanley Investment Narrative Recap

To be a Morgan Stanley shareholder, you need to believe in the enduring value of its global wealth management franchise and its ability to maintain strong earnings growth, supported by a balanced approach to capital markets and innovation. The recent wave of fixed-rate bond issuances, while reinforcing Morgan Stanley’s funding flexibility, is not expected to materially alter the most important short-term catalyst, ongoing client asset growth in wealth management, or meaningfully mitigate the key risk of sustained margin pressure as passive investing accelerates.

Among recent announcements, the launch of new fixed-income offerings with maturities to 2040 stands out. These issuances equip Morgan Stanley with additional capital to support broader growth initiatives, yet do not directly address the current margin risks tied to structural shifts in client preferences, a factor that remains central to near-term performance.

By contrast, investors should be aware that as passive investing gains popularity, Morgan Stanley’s fee-based revenue model faces pressure that could...

Read the full narrative on Morgan Stanley (it's free!)

Morgan Stanley's narrative projects $76.0 billion revenue and $17.2 billion earnings by 2028. This requires 5.0% yearly revenue growth and a $3.1 billion earnings increase from $14.1 billion today.

Uncover how Morgan Stanley's forecasts yield a $167.35 fair value, in line with its current price.

Exploring Other Perspectives

Six users in the Simply Wall St Community estimate Morgan Stanley’s fair value anywhere from US$102.53 to US$167.35. With such a broad spectrum of views, consider how the firm’s exposure to evolving client preferences in asset management may influence future results.

Explore 6 other fair value estimates on Morgan Stanley - why the stock might be worth 37% less than the current price!

Build Your Own Morgan Stanley Narrative

Disagree with existing narratives? Create your own in under 3 minutes - extraordinary investment returns rarely come from following the herd.

• A great starting point for your Morgan Stanley research is our analysis highlighting 4 key rewards and 2 important warning signs that could impact your investment decision.
• Our free Morgan Stanley research report provides a comprehensive fundamental analysis summarized in a single visual - the Snowflake - making it easy to evaluate Morgan Stanley's overall financial health at a glance.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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