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.
摩根士丹利分析师Betsey Graseck在特朗普赢得2024年选举和共和党全面胜利后，对大型银行持超配评级。
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.
专家观点：在周一，Graseck列出了摩根士丹利对大型银行2025年积极展望的三个主要因素。她认为资本市场复苏、量化紧缩结束以及监管环境的稳定将对行业板块有利。
"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在周三对CNBC的Squawk Box表示：“我们真的在寻找大盘银行监管的稳定，这是一个积极信号，因为消除负面因素是件好事。”
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.
升级：摩根士丹利升级了其覆盖范围内所有的信托银行，并指出量化紧缩的结束是推动升级的因素。该公司预计存入资金增长将在3%到7%之间，这将有利于信托银行，因为它们偏向于大型机构资产管理客户。
- 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将纽约梅隆银行（纽交所：BK）的评级从等权重上调至超配，并将目标价格从82美元提高至94美元。
- 该公司将北方信托公司（纳斯达克：NTRS）的评级从轻仓上调至等权重，并将目标价格从103美元提高至127美元。
- 摩根士丹利还将州街公司（纽交所：STT）的评级从等权重上调至超配，并将目标价格从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.
下调：分析师认为，鉴于未来金融和政治环境， 美国银行（纽交所：BAC）的风险收益更为平衡，该公司更倾向于资本市场比重较高的资金中心。
- 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.
- 摩根士丹利将美国银行的评级从超配下调至平配，但将其目标价从48美元提高至55美元。
- Graseck还将地区金融公司（纽交所：RF）的评级从超配下调至平配，并将目标价从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，该公司正减少其对信用风险的敞口，以应对2025年可能出现的经济衰退。因此，摩根士丹利将地区金融公司（纽交所：RF）的评级从超配下调至平配，原因是其对商业和工业(C&I)贷款的过度敞口。
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Image: Shutterstock
图片：shutterstock
