Knight On the Brink: Financial Loser
Morgan Stanley is typically among the more volatile financial names on days of major developments, or non-developments, out of Europe. The company reported sovereign and non-sovereign net exposure to "Euro Peripherals," including Greece, Ireland, Italy, Spain, and Portugal, of $4.2 billion as of June 30, with another $1.4 billion in exposure to France.
Atlantic Equities analyst Richard Staite said on July 20, after Morgan Stanley announced its disappointing second-quarter results, that "Morgan Stanley is planning to cut risk weighted assets within its
Staite rates Morgan Stanley "Underperform," with a $15 price target, and estimates the company will earn 63 this year, followed by 2013 EPS of $1.56.
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