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