Morgan Stanley rises after Wolfe Research upgrades to 'outperform'

Wall Street titan Morgan Stanley's MS.N shares rise 1.4% to $160.35 premarket after Wolfe Research upgrades stock to "outperform" from "peer perform"

Wealth space should continue to be the fastest growing business within financials, Wolfe Research analyst Steven Chubak says, adding that MS is better positioned to benefit from industry tailwinds

That suggests EPS growth should outpace peers regardless of the environment, Chubak adds

Brokerage believes the Street is underappreciating the impact of MS market share gains in Wall Street operations and accelerating growth in wealth management

MS is trading at an attractive valuation having underperformed most universal bank peers over the past two years - brokerage

10 of 25 brokerages rate the stock "buy" or higher and 15 "hold"; median PT $175 - data compiled by LSEG

As of last close, MS stock up 25.8% YTD