Morgan Stanley Overweight On Bank of America

Morgan Stanley is out with a research report on Bank of America

and it has an Overweight rating and a $15 price target. In a note to clients, Morgan Stanley writes, "We view recent actions by BAC as confidence enhancing with BAC 1) monetizing half of its CCB stake generating $3.5b in capital and 2) issuing $5b of preferred+warrants to Warren Buffett's Berkshire Hathaway. EPS estimates tweaked down 4% on Buffett investment; target price unchanged. No impact to estimates from CCB sale as impact was already in our model." Shares of BAC gained 63 cents yesterday to close at $8.39, a gain of 8.12%.