Financial Winners & Losers
Regions: Financial Winner
Interested in more on Regions Financial? See TheStreet Ratings' report card for this stock.
Shares of Morgan Stanley (MS) rose over 2% to close at $18.56, despite a downgrade by Atlantic Equities analyst Richard Staite, to an "Underweight" rating, with a price target of $18, saying that "given it has higher funding cost and a relatively fixed [expense] base, we forecast [return on tangible equity] at only 6% in 2012." Staite also said that "given recent share price moves we now see Morgan Stanley as being the least attractive in the sector." The analyst lowered his 2012 EPS estimate to $1.77 from $1.81 and his 2012 estimate to $2.24 from $2.26. Morgan Stanley's shares have now risen 23% year-to-date. The shares trade for just 0.6 times the company's reported Dec. 31 tangible book value of $31.42, and 10 times the consensus 2012 EPS estimate of 91 cents.RELATED STORIES:
-- Written by Philip van Doorn in Jupiter, Fla. To contact the writer, click here: Philip van Doorn. To follow the writer on Twitter, go to http://twitter.com/PhilipvanDoorn.
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