KBW Lowers Estimates on Morgan Stanley (MS)

KBW is out with its report today on Morgan Stanley MS, lowering EPS estimates. In a note to clients, KBW writes, "We are lowering our first quarter estimate to $0.08 from $0.45 per share and our full year 2011 estimates to $1.95 from $2.47. In addition, we are lowering our 2012 estimates to $2.75 from $2.80 per share. This reduction in our earnings estimates is due to expectations for a potential loss in its MUFG JV as well as expectations for higher compensation expense and modestly lower trading results." KBW maintains Market Perform and a $30 PT on MS. Shares of MS closed Monday at $27.10.