Morgan Stanley Likes Bank Of America, BlackRock And American Express
On CNBC's Fast Money, Betsy Graseck of Morgan Stanley spoke about stocks in the financial sector that she likes.
Graseck has a price target of $23 for Bank of America Corp which should be achieved in the next 12 to 18 months. She likes the company because it is executing extremely well on the expense side and it is benefiting from the rising rates in the front end of the curve.
She values BlackRock, Inc. at $404. Graseck likes the stock because she expects to see an increase of 3.5 to 3.7 percent in the company's net inflow.
American Express Company should also do well, according to Graseck, who has a $110 price target for the stock. She believes that consumers are doing better and that is going to drive better spending.
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