Thursday, December 16, 2010

Goldman (NYSE:GS) Cuts Morgan Stanley (NYSE:MS) EPS Estimate on Weak Fixed Income Trading

Fixed income trading will become a weak point for most trading entities in 2011, and that's no different for Morgan Stanley (NYSE:MS), which had its EPS estimate cut by Goldman Sachs (NYSE:GS) for the fourth quarter for that reason.

As far as its core equities segment, that should continue to remain strong.

In the fourth quarter the EPS estimate was lowered from $0.55 to $0.35, a 37 percent drop.

Goldman maintains their "Buy" rating on Morgan Stanley, which closed Wednesday at $26.20, down $0.43, or 1.61 percent. They have a price target of $30 on them.

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