CLSA's Mike Mayo Upgrades Morgan Stanley (MS) Two Notches to Outperform

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CLSA's Mike Mayo issued a two-notch upgrade on shares of Morgan Stanley (NYSE: MS) late Thursday. The analyst now rates the stock an Outperform, up from Underperform previously, and boosted his price target from $15 to $16.

The raised investment recommendation follows Q2 results from Morgan Stanley on Thursday morning. Shares tumbled more than 5 percent to $13.25 following the results.

Mayo's new price target represents potential upside of about 21 percent from where the stock is currently trading.

For an analyst ratings summary and ratings history on Morgan Stanley click here. For more ratings news on Morgan Stanley click here.

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