Morgan Stanley Equal Weight On Total System Services (TSS)

Morgan Stanley has an Equal Weight rating on shares of Total System Services TSS after it reported earnings. In a note to investors, Morgan Stanley writes, "We view 1Q as “another step forward” type of quarter, but one that should not raise eyebrows of either the bulls or the bears. While some may penalize TSS for the lack of a guidance raise, we believe others will take comfort in the fact that posting performance at the upper end of the range may bode well for the rest-of-year outlook. Either way, we don't see the quarter being a meaningful driver of sentiment near-term, as the recovery in card issuance remains in an early and unpredictable stage, and other growth initiatives remain in various stages of development and maturation." Shares of TSS gained 4 cents yesterday to close at $19.10, a gain of 0.2%.