Big Banks Will Get Bigger Under Trump In 2025: Analyst
Big Banks Will Get Bigger Under Trump In 2025: Analyst
Morgan Stanley analyst Betsey Graseck is Overweight on big banks following Donald Trump's win and the Republican sweep of the 2024 election.
摩根士丹利分析師Betsey Graseck在特朗普贏得2024年選舉和共和黨全面勝利後，對大型銀行持超配評級。
Expert Ideas: On Monday, Graseck listed three main factors for Morgan Stanley's positive outlook on large-cap banks heading into 2025. She sees capital markets rebounding, the end of quantitative tightening and a stabilizing regulatory environment as beneficial to the industry.
專家觀點：在週一，Graseck列出了摩根士丹利對大型銀行2025年積極展望的三個主要因素。她認爲資本市場復甦、量化緊縮結束以及監管環境的穩定將對行業板塊有利。
"We're really looking for stabilization in large cap bank regulation, and that's a positive, because elimination of a negative is a good thing," Graseck told CNBC's Squawk Box on Wednesday.
Graseck在週三對CNBC的Squawk Box表示：「我們真的在尋找大盤銀行監管的穩定，這是一個積極信號，因爲消除負面因素是件好事。」
Upgrades: Morgan Stanley upgraded all of the trust banks within its coverage and pointed to the end of quantitative tightening as the driver behind the upgrades. The firm sees deposit growth of between 3% and 7% which would benefit the trust banks as they skew to large institutional asset manager clients.
升級：摩根士丹利升級了其覆蓋範圍內所有的信託銀行，並指出量化緊縮的結束是推動升級的因素。該公司預計存入資金增長將在3%到7%之間，這將有利於信託銀行，因爲它們偏向於大型機構資產管理客戶。
- Graseck upgraded Bank of New York Mellon Corp. (NYSE:BK) from Equal-Weight to Overweight and raised the price target from $82 to $94.
- The firm upgraded Northern Trust Corp. (NASDAQ:NTRS) from Underweight to Equal-Weight and raised its price target from $103 to $127.
- Morgan Stanley also upgraded State Street Corp. (NYSE:STT) from Equal-Weight to Overweight and raised the price target from $102 to $139.
- Graseck將紐約梅隆銀行（紐交所：BK）的評級從等權重上調至超配，並將目標價格從82美元提高至94美元。
- 該公司將北方信託公司（納斯達克：NTRS）的評級從輕倉上調至等權重，並將目標價格從103美元提高至127美元。
- 摩根士丹利還將州街公司（紐交所：STT）的評級從等權重上調至超配，並將目標價格從102美元提高至139美元。
Downgrades: The analyst sees a more balanced risk-reward for Bank of America Corp. (NYSE:BAC) in the coming financial and political environment in which the firm prefers money centers with a higher skew to capital markets.
下調：分析師認爲，鑑於未來金融和政治環境， 美國銀行（紐交所：BAC）的風險收益更爲平衡，該公司更傾向於資本市場比重較高的資金中心。
- Morgan Stanley downgraded Bank of America from Overweight to Equal-Weight, but raised its price target from $48 to $55.
- Graseck also downgraded Regions Financial Corp. (NYSE:RF) from Overweight to Equal-Weight and raises the price target from $28 to $32.
- 摩根士丹利將美國銀行的評級從超配下調至平配，但將其目標價從48美元提高至55美元。
- Graseck還將地區金融公司（紐交所：RF）的評級從超配下調至平配，並將目標價從28美元提高至32美元。
Graseck said the firm is reducing its exposure to credit risk amid the possibility of a recession in 2025. Accordingly, Morgan Stanley downgraded Regions Financial Corp. (NYSE:RF) from Overweight to Equal-Weight due to its outsized exposure to Commercial and Industrial (C&I) lending.
Graseck表示，該公司正減少其對信用風險的敞口，以應對2025年可能出現的經濟衰退。因此，摩根士丹利將地區金融公司（紐交所：RF）的評級從超配下調至平配，原因是其對商業和工業(C&I)貸款的過度敞口。
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Image: Shutterstock
圖片：shutterstock
譯文內容由第三人軟體翻譯。
