Deutsche Bank Maintains Buy on Morgan Stanley (MS)

Deutsche Bank is out with its report on Morgan Stanley MS, maintaining Buy. In a note to clients, Deutsche Bank writes, "Given the improving, though volatile, macro backdrop, Morgan Stanley's significant upside potential in capital markets and wealth management, and its current valuation, we like the long term risk/reward and maintain our Buy rating. Our PT is $35, based on a P/B multiple of ~1.1x, below peers given its discounted ROE, and below historical levels given regulatory risk." Shares of MS closed Wednesday at $27.23.