Analyst Downgrades Morgan Stanley Stock

The shares of Morgan Stanley (NYSE: MS) are 1.8% lower in pre-market trading, after Goldman Sachs downgraded it to "neutral" from "buy," and lowered its price objective to $105 from $122. The analyst said it anticipates a shift in the investment banking cycle, in which other big-name banks will benefit.Coming into today, the majority of covering brokerages were hesitant towards MS. Of the 22 in coverage, 14 rated it a "hold" or worse, while eight still recommended a "strong buy." Plus, the 12-month average ...