Morgan Stanley Earnings Not All That Great: Citi

Morgan Stanley (NYSE:MS) reported better than expected earnings of 50 cents per share this morning before the market opened. There has been a strong reaction to the earnings report on Wall Street in early trading. Analysts were estimating that the company would show earnings of 40 cents per share for the third quarter of the year.

Citigroup Inc (NYSE:C) analyst Keith Horowitz isn't all that positive on Morgan Stanley (NYSE:MS) in the wake of the earnings report. He reckons the investment bank is fully valued at around $30 per share. According to...