Deutsche Bank Maintains Buy Rating on Morgan Stanley

Deutsche Bank is maintaining its Buy rating on shares of Morgan Stanley MS. “We recently had Ruth Porat, CFO of MS, present at our Global FIG Conf. She highlighted the progress that mgmt has made, as well as initiatives that remain ($1B in re-engineering, & fixed income & MSSB upside) to improve profitability and returns (mid-teen target),” Deutsche Bank writes. “Bottom line, while the environment is challenging and the stock/sector continue to be weak on macro/reg uncertainty & an investor strike on financials, we think it's priced in, and if/when we get any improvement in macro/reg clarity, we expect upside in the stock.” Morgan Stanley closed Thursday at $22.51.