Nomura Securities Maintains a 'Neutral' on Morgan Stanley (MS); First Read on Q1 Results

Nomura Securities maintains a 'Neutral' on Morgan Stanley (NYSE: MS), PT $29.

Nomura analyst, Glenn Schorr, said, "We think Morgan’s investment bank posted solid results (with clear improvement in trading, particularly in equities) and wealth management continued to show some positive momentum with $11bn of net new money. Stock should lift as trading improvement is one of the clear issues investors have been waiting for. Still, in a quarter where trading was so strong, a 6% ROE on 17+x common leverage will likely keep the upside contained."

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 $26.04 yesterday.

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