Morgan Stanley Comments on Hartford Financial Services

Morgan Stanley has published a research report on Hartford Financial Services (NYSE:

) In the report, Morgan Stanley wrote, "We consider Hartford's valuation to be attractive and believe the company has made substantial progress in addressing many of its prior challenges. However, we are remaining on the sidelines given our concerns that it could be facing a broad range of charges that will result in a substantial hit to book value and that consensus estimates currently look significantly too high — both factors that lead us to question the potential for near-term out performance." Morgan Stanley rated Hartford Financial Services an Equal-weight with no price target given. Hartford Financial Services closed Wednesday at $20.20.