Barclays Raises PT On Morgan Stanley

In a research note released Tuesday, Barclays analyst Jason M. Goldberg increased his price target from $33 to $35 on Morgan Stanley (NYSE: MS).

In addition, the analyst is lowering his earnings per share estimates for the second quarter of 2014 to $0.54 from $0.65. The 2014 EPS estimate is also being lowered to $2.50 from $2.60; the decrease was because the analyst is looking for an increase in mergers and acquisitions to help revenue.

However, 2015 estimates remain the same at $3.10.

Furthermore, Goldberg met with the company's CFO Ruth Porat. Below are some key points:

1) MS is focused on achieving a 10 percent ROE as a stepping stone to a higher objective;
2) Investment Banking should benefit from heightened M&A;
3) Wealth Management is focused on further improving margins;
4) Investment Management provides steady returns.

Shares of Morgan Stanley are up more than two percent on Tuesday and are up four percent year-to-date.