Morgan Stanley: Credit Suisse cuts its target price
(CercleFinance.com) - Morgan Stanley shares were trading down on Friday, as Credit Suisse analysts cut their target price for the US investment bank's share.
In a note sent to clients, Credit Suisse said it has cut its target price for the stock from 62 euros to 58 dollars after revisiting the valuations of Wall Street's largest companies.
However, Credit Suisse continues to recommend purchase of the shares, and maintains its "outperform" rating on the stock.
"Morgan Stanley's balance of well positioned institutional and wealth management franchises is the starting point," it said.
"Less volatility in its growing revenue stream, operating leverage realization, and capital efficiency should support the bank's ability to sustain, if not improve upon, its target 10-13% ROE," it added.
Morgan Stanley shares are currently down 0.4% at 42.4 dollars.
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The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
In a note sent to clients, Credit Suisse said it has cut its target price for the stock from 62 euros to 58 dollars after revisiting the valuations of Wall Street's largest companies.
However, Credit Suisse continues to recommend purchase of the shares, and maintains its "outperform" rating on the stock.
"Morgan Stanley's balance of well positioned institutional and wealth management franchises is the starting point," it said.
"Less volatility in its growing revenue stream, operating leverage realization, and capital efficiency should support the bank's ability to sustain, if not improve upon, its target 10-13% ROE," it added.
Morgan Stanley shares are currently down 0.4% at 42.4 dollars.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.