Credit Agricole upgraded to Equal Weight from Underweight at Morgan Stanley

Morgan Stanley upgraded Credit Agricole to Equal Weight from Underweight with a price target of EUR 16 ahead of its Q2 results. The firm is ahead of consensus on French Retail banking, noting that while it expects revenues to remain subdued, it also believes that costs can continue to beat in a similar trend to last quarter, the analyst tells investors in a research note. The stock has also underperfirmed recently due to uncertainty related to French elections, Morgan Stanley added.