Analyst Warns Against Shorting Morgan Stanley (MS)

Bernstein analyst Brad Hintz is out with a warning for short sellers of Morgan Stanley (NYSE: MS).

According to Hintz, shares of MS are at 0.58x tangible book, or a level not seen since the depths of the financial crisis. He warns that shorting the stock here is "relatively risky" as shares are trading near a floor valuation, which he said is about 0.55x-0.60x tangible book.

Given that shares have limited downside and huge upside, he is reiterating his Outperform rating and price target of $24.00.

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 $14.90 yesterday.

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