Loading...
Loading...
In a report published Thursday, Nomura analyst Steven Chubak initiated coverage on
Morgan StanleyMS at Neutral, with a $34.00 price target.
According to the report, Nomura is constructive on the long-term earnings outlook, as MS should exceed margin guidance in wealth management and appears on track to achieve $1.6bn of targeted savings.
“MS is the most negatively impacted by the recently-proposed leverage rules, and its weaker position suggests capital return will likely be constrained,” the report noted.
Some highlights from the report included:
-”Normal ROE potential of ~13% and a 2014E capital deficit of $7bn support our $34 TP.”
-”Under a risk-based regime, MS would be valued at north of $40 using our capital-adjusted approach.”
-FY13E EPS at $1.8.
-FY14E EPS at $2.39.
MS closed Wednesday at $31.49.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in