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2,500 layoffs in IB + EquityZen acquisition + 2.5% fee cut → recovery play

Morgan Stanley announced plans to lay off 2,500 employees in investment banking and wealth units as of March 4, 2026, while simultaneously acquiring EquityZen and cutting its marketplace transaction fees from 5% to 2.5% to gain secondary market share. The stock has pulled back to around $154 from a recent $161 close, and the company reports Q1 2026 earnings on April 15. Nine analysts recommend Buy with zero suggesting selling, and the average 12-month price target is $195.81, implying 27% upside from current levels.

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