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Will This Price Target Increase Help Morgan Stanley (MS) Stock Today?

Story updated at 9:55 a.m. to reflect market activity.

NEW YORK (TheStreet) -- Barclays (BCS) raised its price target for Morgan Stanley (MS - Get Report) to $35 from $33 Tuesday.

Morgan Stanley gained 0.9% to $31.99 in morning trading.

The form maintained its "equal weight" rating for the stock. Morgan Stanley has focused on shifting its business mix, and is improving its capital and liquidity position according to analysts Jason M. Goldberg and Kenneth Hill.

"We believe its Investment Bank and Equities Sales & Trading are leveraged to improvements in the current backdrop, can see FICC retooling is well underway, anticipate continued growth in both Wealth and Investment Management, and understand it remains focused on expenses (comp & non-comp)," the analysts wrote. "Still, we believe additional progress from its 'bank' strategy and much more aggressive capital management on a micro level, and increases in market volumes/volatility and higher short-term interest rates from a macro perspective, are required for a double-digit ROE."

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MS Chart

MS data by YCharts

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.

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