Morgan Stanley cuts its outlook and price targets on big U.S. banks, citing economic concerns in...

|By:, SA News Editor

Morgan Stanley cuts its outlook and price targets on big U.S. banks, citing economic concerns in the U.S. and Europe. Most notably, it cuts Citigroup (C +5.8%) to Equal Weight from Overweight and trims its price target to $30 from $45. Cut to Underweight: STT +1.7%, BK +1.4%, NTRS +1.4%. But for today at least, bank stocks (XLF +3%) are rallying.