Morgan Stanley Upgrades Credit Suisse (CS) to Overweight

Morgan Stanley upgraded Credit Suisse (NYSE: CS) from Equalweight to Overweight.

Analyst Magdalena Stoklosa comments "Commitment to the bottom line = Efficiency programme + revenue upside. We believe connectivity across businesses, capital utilization and quality of earnings from here are likely to result in more predictable earnings delivery at CS. At the group level, we see underlying operational jaws at 14% in 2017e and 10% in 2018e, as ROTE recovers to 10% by 2018e. We are ~10% above consensus on 2017-18 underlying PBT, and expect the street to move our way."

For an analyst ratings summary and ratings history on Credit Suisse click here. For more ratings news on Credit Suisse click here.

Shares of Credit Suisse closed at $15.22 yesterday.

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