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Outlook 2016: The Street’s Right-Sizing Marches On

Traders Magazine Online News, January 29, 2016

Renee Caruthers

Morgan Stanley’s December announcement that it was cutting more than 400 fixed-income jobs grabbed headlines. While the announcement may have been depressing news for Morgan Stanley’s bond traders, not everyone saw it that way.

UBS analyst Brennan Hawken upgraded Morgan Stanley’s stock from $39 to $42 on the news.

“The transition and reduction of capital from the FICC business could take time, but it is our view that if [Morgan Stanley] can articulate a clear path (with…

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