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Rap Sheet

Author:

Perry Rod

Subject:

Analyst Coverage

Date:

10/15/08 at 12:00 PM CDT

 

 

READ: 121

RPLY: 0

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Sentiment:

Neutral

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Citigroup analyst Prashant Bhatia on Tuesday upgraded shares of Morgan Stanley  to buy from hold and said the U.S. government's announced plan to rescue the banking sytem assures that the companies will stay in business. "The actions create a path to once again accessing the debt markets for financing," Bhatia wrote. "Now it's back to execution and that's where both Morgan Stanley & Goldman Sachs have excelled versus peers in the past," Bhatia concluded. Earlier Tuesday Treasury Secretary Henry Paulson announced an extraordinary investment by the federal government in the American banking system, laying out an unprecedented plan to give $250 billion to banks to repair the faltering financial system and get lending started again.

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