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Fly News Breaks for February 26, 2020
MS, ETFC
Feb 26, 2020 | 07:20 EDT
Raymond James analyst Patrick O'Shaughnessy downgraded E-Trade (ETFC) to Market Perform from Outperform following the announced acquisition by Morgan Stanley (MS). While it's possible another bidder may emerge, the analyst tells investors in a research note that he believes Morgan Stanley makes the most logical sense as an acquirer and is paying a full valuation and says that despite the high-profile nature of this combination, he sees a relatively low risk of regulators blocking this deal.
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