MS Upped to Outperform

FBR Capital upgraded New York based investment bank Morgan Stanley MS from “market perform” to “outperform,” while maintaining its target price at $35. The analysts have upgraded MS, despite rumors of the ongoing federal probe on the firm’s operations in mortgage backed securities. According to FBR Capital, Morgan Stanley’s valuation is attractive. MS is in the middle of shifting to a more stable, retail-oriented business model. By 10:38 am, MS was up 1.83% to $28.31. Read more from Benzinga's Company news.