Morgan Stanley price target raised to $135 from $105 at Citi

Citi raised the firm’s price target on Morgan Stanley (MS) to $135 from $105 and keeps a Neutral rating on the shares. The shares are up 44% year-to-date amid optimism on both capital markets rebound and capital relief on the Basel III endgame, the analyst tells investors in a research note. The firm believes, however, that “there is a lot being priced in at these levels.”