Deutsche Downgrades Morgan Stanley, BlackRock; Maintains Goldman Buy
Deutsche Bank downgraded Morgan Stanley, BlackRock and TD Ameritrade Friday, but maintained its Buy ratings on Goldman Sachs and Invesco. While it has a Buy rating on Goldman, Deutsche lowered its target price to $145. TD Ameritrade was the big decliner among the above names today, down 41 cents, or 2%, to $20.06, but all [...]

Deutsche Bank downgraded Morgan Stanley, BlackRock and TD Ameritrade Friday, but maintained its Buy ratings on Goldman Sachs and Invesco.

While it has a Buy rating on Goldman, Deutsche lowered its target price to $145.

TD Ameritrade was the big decliner among the above names today, down 41 cents, or 2%, to $20.06, but all were lower. Goldman is off 92 cents, or 0.75%, to $122.15, and Invesco fell 15 cents, or 0.57%, $26.22. BlackRock was down 51 cents or 0.25%, to $204.57. Morgan Stanley fell by two pennies, or 0.05%, to $19.50

Deutsche also raised its target prices on many banks, brokers, asset managers and exchanges in its coverage area, citing stronger markets, despite weaker exchange volumes and slightly higher retail activity. Deutsche maintains Hold ratings on all the stocks where it raised targets, with the exception of Invesco.

Herewith, Deutsche’s take:

Company (Ticker)RatingTarget Price *
TD Ameritrade (AMTD)Buy to Hold$18 to $20
Morgan Stanley (MS)Buy to Hold$28 to $22
BlackRock (BLK)Buy to Hold$210 to $210
Goldman Sachs (GS)Buy$160 to $145
Franklin Resources (BEN)Hold$120 to $130
Cohen & Steers (CNS)Hold$29 to $32
Federated Investors (FII)Hold$17 to $18
Invesco (IVZ)Buy$29 to $30
Janus Capital (JNS)Hold$8 to $9
Legg Mason (LM)Hold$28 to $29
T. Rowe Price (TROW)Hold$63 to $65
E*TRADE Financial (ETFC)Hold$9 to $10
CBOE Holdings  (CBOE)Hold$26 to $27
CME Group (CME)Hold$275 to $280
IntercontinentalExchange (ICE)Hold$135 to $140
Charles Schwab (SCHW)Hold$13 to $14
* second number is new target price.
Source: Deutsche Bank
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