Nomura Securities Maintains a 'Neutral' on Morgan Stanley (MS); Q1: Real Signs of Progress

Nomura Securities maintains a 'Neutral' on Morgan Stanley (NYSE: MS) price target of $20.00.

Analyst, Glenn Schorr, said, "Great trading results (on lower VaR), OK banking and wealth management numbers and solid expense trends all combined to produce the best quarter we’ve seen at MS in a long time. While a lower tax rate added a little bit, it wasn’t that much and the company’s 9% ROE showed real signs of progress. Valuation gap vs. Goldman (NYSE: GS) could close as MS should get a well deserved lift on these numbers, but keep in mind that a great quarter at MS = a 9% ROE, an OK quarter at GS = a 13% ROE."

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

Shares of Morgan Stanley closed at $17.66 yesterday.

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