Associate, Research

Morgan Stanley•New York, NY

27d•Hybrid

About The Position

Morgan Stanley & Co. LLC is seeking an Associate, Research in New York, New York to debrief internal stakeholders, including Sales and Trading, on market moving events that impact stock prices of companies under coverage. Conduct industry diligence and primary research through surveys, expert conference calls, earnings calls, management catch ups and various channel checks to evaluate industry trends. Build financial operating models for key drivers and performance indicators to better understand and track performance of companies under coverage; involves analyzing unit economics and adjusting models based on earnings releases, management guidance and industry trends. Conduct valuation analysis to come up with price targets for companies under coverage. Catalyst identification and investment thesis development, which includes monitoring events that could drive stock re-ratings (mergers & acquisitions, product launches, regulatory shifts) and understanding the market is mispricing a stock (variant perception analysis). Write clear and concise investment reports summarizing thesis, risks and catalysts and distilling complex financial and strategic insights into quick take aways for buyside clients. Develop and maintain relationships with buy-side clients, including hedge funds, long only asset managers, pension plans, etc, to provide sector insights, company insights and stock recommendations. Work with supervisory analysts, compliance and other internal stakeholders to ensure research is produced in a compliant manner. Telecommuting permitted up to 1 days per week.

Requirements

Bachelor’s degree in Business, Finance, or a related field
Four (4) years of experience in the position offered or four (4) years as an Associate, Analyst, or a related role
Four (4) years of experience with building detail operating models and valuation analysis, including precedent transactions, comparable companies, sum-of-the-parts, discounted cash flow, leveraged buyouts, and merger modeling
Four (4) years of experience with accounting standards and methodologies, including Generally Accepted Accounting Principles and International Financial Reporting Standards
Four (4) years of experience with industry supply chain mapping
Four (4) years of experience with expert network and primary research utilization
Four (4) years of experience with sentiment analysis and positioning
Four (4) years of experience with Factset
Four (4) years of experience with Eikon
Four (4) years of experience with Bloomberg
Four (4) years of experience with alternative data integration
Four (4) years of experience with Microsoft Excel
Four (4) years of experience with CapIQ
Four (4) years of experience with MergerMarket

Responsibilities

Debrief internal stakeholders, including Sales and Trading, on market moving events that impact stock prices of companies under coverage.
Conduct industry diligence and primary research through surveys, expert conference calls, earnings calls, management catch ups and various channel checks to evaluate industry trends.
Build financial operating models for key drivers and performance indicators to better understand and track performance of companies under coverage.
Analyze unit economics and adjust models based on earnings releases, management guidance and industry trends.
Conduct valuation analysis to come up with price targets for companies under coverage.
Identify catalysts and develop investment theses, including monitoring events that could drive stock re-ratings and understanding market mispricing.
Write clear and concise investment reports summarizing thesis, risks and catalysts.
Distill complex financial and strategic insights into quick takeaways for buyside clients.
Develop and maintain relationships with buy-side clients to provide sector insights, company insights and stock recommendations.
Work with supervisory analysts, compliance and other internal stakeholders to ensure research is produced in a compliant manner.