Tuesday, May 15, 2012
--Credit Suisse removes Morgan Stanley shares from focus list
--Focus list a list of top picks maintained by investment policy committee, a group within the research division
--Bank declined to comment beyond the note, but Morgan Stanley shares under pressure
By Alexandra Scaggs
Of DOW JONES NEWSWIRES
NEW YORK (Dow Jones)--Credit Suisse has removed Morgan Stanley (MS) from its investment policy committee's focus list after more than two years, according to a note this morning.
Morgan Stanley was added to the list as a top stock pick in February 2010.
The investment policy committee is a group within the bank's research division, and determines a focus list of its top picks across all coverage areas.
The bank said in its note that it "no longer considers it to be one of the firm's top ideas," but declined to comment further.
Morgan Stanley's share price has been under pressure, as the company faces a possible three-notch downgrade by Moody's. Shares closed down more than 1.1% Tuesday, at $14.14, ahead of the bank's investor meeting tomorrow.
-By Alexandra Scaggs, Dow Jones Newswires; 212-416-4125; alexandra.scaggs@dowjones.com
(END) Dow Jones Newswires
May 15, 2012 16:35 ET (20:35 GMT)
