UPDATE: Morgan Stanley Reiterates Equal-Weight Rating, Removes PT on People's United Financial on Little Reason for Optimism

In a report published Friday, Morgan Stanley analyst Ken A. Zerbe reiterated an Equal-Weight rating on

, but removed the $15.00 price target. In the report, Morgan Stanley noted, “People's United reported EPS of $0.21, exactly matching our estimate and consensus. This was one of the most in-line quarters we've seen so far, with almost every line item matching our expectations. From a fundamental perspective, our view of PBCT, and its ultimate earnings power and EPS growth is unchanged following these results.” People's United Financial closed on Thursday at $14.13.