Upgrade
Citigroup analyst Prashant Bhatia on Tuesday upgraded shares of
Morgan Stanley to buy from hold and said the U.S.
government's announced plan to rescue the banking sytem assures
that the companies will stay in business. "The actions create a
path to once again accessing the debt markets for financing,"
Bhatia wrote. "Now it's back to execution and that's where both
Morgan Stanley & Goldman Sachs have excelled versus peers in
the past," Bhatia concluded. Earlier Tuesday Treasury Secretary
Henry Paulson announced an extraordinary investment by the federal
government in the American banking system, laying out an
unprecedented plan to give $250 billion to banks to repair the
faltering financial system and get lending started again.
|
|