Barclays Maintains an 'Equalweight' on Morgan Stanley (MS); Noisy Quarter, but Improved Trading

Barclays maintains an 'Equalweight' on Morgan Stanley (NYSE: MS), PT lowered from $34 to $31.

Barclays analyst says, "Based on many face-to-face discussions with investors over the past several weeks, we believe that there is very little interest in the brokers and that the sector is under-owned. We sense relatively little focus on near-term results - perhaps the least since the credit crisis. Investor sentiment around the brokers centers almost entirely around the lack of visibility into the profit model going forward post implementation of Dodd-Frank legislation and Basel III capital requirements. Investors are looking for clarity about how dealers will be able to generate sustainable 15%+ ROEs." (Barclays moves FY11 EPS Estimate from $1.77 to $0.96, maintains FY12 at $2.65)

For more ratings news on Morgan Stanley click here and for the rating history of Morgan Stanley click here.

Shares of Morgan Stanley closed at $26.48 yesterday.

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