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BofA/Merrill Lynch Upgrades Morgan Stanley to buy

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Shares of Morgan Stanley (NYSE:MS) are climbing this morning on a buy upgrade by Bank of America Merrill Lynch. BofA/Merrill Lynch had a previous neutral stand on the shares. The price target was maintained at $35 a share. Despite the industry facing increased regulation and declines in fixed-income trading, BofA/Merrill Lynch sees increased earning potential in Morgan Stanley’s wealth management, investment banking, and equities. In addition, according to BofA/Merrill Lynch, the recent pullback in the company makes a great buying opportunity.