Will This Upgrade Help Morgan Stanley (MS) Stock Today?

NEW YORK (TheStreet) -- Shares of Morgan Stanley  (MS) were upgraded to "buy" from "neutral" at Bank of America/Merrill Lynch (BAC) this morning.

The stock is up 1.82% to $29.59 in pre-market trade.

Bank of America said the upgrade was "based on a more attractive risk/reward given the recent pullback; earnings upside in wealth management, equities, and investment banking; and longer term upside from increasing efficiencies and capital return."

Continuing, the bank noted that, "While there are still clearly headwinds for MS and the industry given the numerous regulatory changes, with the stock trading below year-end TBV and expectations of ROTEs moving to 10/11% in 2015/2016, we view the risk/reward as attractive. Our rating is now Buy & our PO remains $35."

Must Read: Warren Buffett's 10 Favorite Growth Stocks

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

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.

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