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About Stephen
Stephen Biggar is currently director of product strategy at Argus Research. He is a member of the Argus Investment Policy Committee and Senior Portfolio Group, and frequently appears in print and broadcast media discussing the equity markets. Previously, he was the global director of equity research for S&P Capital IQ. He holds a degree in economics from Rutgers University.
Stephen's Articles
Our “Buy” rating on Morgan Stanley (MS) reflects expectations for strong revenues from capital markets businesses in 2025. We see a healthy environment for the company’s Wealth Management franchise, which is nearly 50% of revenues, as record equity market valuations and good inflows all lead to higher assets under management, notes Stephen Biggar, analyst at Argus Research.
Stephen Biggar
FINANCIALS
Tickers: MS
We are reiterating our “Buy” rating and raising our target to $470 from $450 on Berkshire Hathaway Inc. (BRK.B). We have a positive view of the conglomerate nature of Berkshire, whose stock returns have doubled those of the S&P 500 since 1965 (compound annual growth of 19.8% versus 10.2% for the index), says Stephen Biggar, analyst at Argus Research.
We are raising our rating on Goldman Sachs Group Inc. (GS) to “Buy” from “Hold” following 1Q results, which demonstrated the considerable strengths of the Goldman franchise during an investment banking upturn. The environment offered a few false rebounds in 2023, but the current surge appears to have staying power, suggests Stephen Biggar, analyst at Argus Research.
Stephen Biggar
FINANCIALS
Tickers: GS
Our BUY rating on Apollo Global Management (APO) reflects the company’s strong position among alternative asset managers and ability to generate cash in a wide variety of market environments, notes Stephen Biggar, analyst at Argus Research.
Stephen Biggar
FINANCIALS
Tickers: APO