UPDATE: Morgan Stanley Reiterates On Goldman Sachs Group On Spring Cleaning For 2015 CCAR

In a report published Thursday, Morgan Stanley analyst Betsy L. Graseck reiterated an Equal-Weight rating on Goldman Sachs Group (NYSE: GS), but removed the $180.00 price target.

In the report, Morgan Stanley noted, “Spring Cleaning assets helps to optimize balance sheet for CCAR. Goldman cut end-of-period assets by $56B, or 6% q/q. This is significantly more than the 0-2% q/q decline over the prior 4 quarters. TCE/TA ratio increased 40 bp to 7.8% almost entirely on this asset shrinkage. Puts GS in better position for the 2015 CCAR, which has 3Q14 as the starting point for the balance sheet stress test. Asset shrinkage was largely in lower ROA assets where client impact was minimal like matched book repo ($25B of the shrinkage).”

Goldman Sachs Group closed on Wednesday at $170.47.