(Bloomberg) -- Morgan Stanley, the best-performing stock among the largest Wall Street banks since the end of 2012, will rise at a slower pace over the next year as the current price anticipates the firm reaching its profitability goal, said David Konrad, a Macquarie Group analyst.
Morgan Stanley dropped 1.9%, the most in a month, to $34.04 at 10:37 a.m. in New York as Konrad cut his rating to neutral from a buy recommendation hed held since beginning his coverage in June 2013. The shares have more than doubled in the past two years, and climbed 11% this year through yesterday, more than any of its four biggest U.S. investment bank rivals.
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