UPDATE: Morgan Stanley Lowers Price Target On Regions Financial On Rate Call

In a report published Wednesday, Morgan Stanley analyst Betsy L. Graseck reiterated an Overweight rating on

, but lowered the price target from $12.50 to $11.50. In the report, Morgan Stanley noted, “Lowering Price Target to $11.50 on 12x 2016e earnings. EPS down 3% & 6% in '15/'16e on lower NIM as 10-year Treasury hovers below sub 2%.Stock reflects tension of EU QE and timing of Fed rate hike.” Regions Financial closed on Tuesday at $8.74.