Nomura Securities Maintains a 'Neutral' on Morgan Stanley (MS); Q2 Review: Trying to Turn the Tide
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Price: $217.36 -0.47%
Rating Summary:
22 Buy, 17 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
22 Buy, 17 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Nomura Securities maintains a 'Neutral' on Morgan Stanley (NYSE: MS) price target of $15.00.
Analyst, Glenn Schorr, said, "MS Reported EPS of $0.16 ex DVA vs. Our/Street Ests of $0.10/$0.32 Hard to pick out too many positives, as solid I-banking and 300bp pretax margin improvement y/y in GWM were the main highlights. Unfortunately, revenues fell 26% q/q on weak trading results, so comp ratios were elevated and the ROE was a paltry 2%. If you want to put a little salt on the wound, you can call out the 2ยข benefit from a low tax rate and a $76M net benefit from some hedging adjustments, but you get the point. That said, MS reported some of the highest capital ratios relative to peers, which may help some investors breathe easier. 2012E/2013E EPS from $0.95/$2.20 to $1.12/$2.20."
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 $13.25 yesterday.
Analyst, Glenn Schorr, said, "MS Reported EPS of $0.16 ex DVA vs. Our/Street Ests of $0.10/$0.32 Hard to pick out too many positives, as solid I-banking and 300bp pretax margin improvement y/y in GWM were the main highlights. Unfortunately, revenues fell 26% q/q on weak trading results, so comp ratios were elevated and the ROE was a paltry 2%. If you want to put a little salt on the wound, you can call out the 2ยข benefit from a low tax rate and a $76M net benefit from some hedging adjustments, but you get the point. That said, MS reported some of the highest capital ratios relative to peers, which may help some investors breathe easier. 2012E/2013E EPS from $0.95/$2.20 to $1.12/$2.20."
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 $13.25 yesterday.
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