Barclays on Morgan Stanley; Raises PT

In a research note released Tuesday, Barclays analyst Jason M. Goldberg increased his price target from $33.0 to $35.0 on Morgan Stanley

In addition, the analyst is lowering his earnings per share estimates for the second quarter of 2014 to $0.54 from $0.65. Also, the 2014 EPS estimate is being lowered to $2.50 from $2.60; the decrease was because the analyst is looking for an increase in mergers and acquisitions to help revenue, However, 2015 estimates remain the same at $3.10. Furthermore, the analyst met with the company's Chief Financial Officer Ruth Porat. Below are some key points: 1) MS is focused on achieving a 10% ROE as a stepping stone to a higher objective; 2) Investment Banking should benefit from heightened M&A; 3) Wealth Mgmt is focused on further improving margins; 4) Investment Mgmt provides steady returns. Shares of the company are up three percent on Monday and are up four percent year-to-date.