Keefe Bruyette & Woods Lowers Morgan Stanley Estimates

Keefe Bruyette & Woods is lowering its estimate on Morgan Stanley MS for 4Q10 as its lower trading forecast is expected to more than offset the higher estimate for investment banking. As a result, its adjusted EPS estimate for 4Q10 is $0.35 per share, down from $0.40 per share previously. Full year estimate goes to $1.70 from $1.75. KBW has a $30 PT and Market Perform rating on MS MS closed Monday at $28.23