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since Morgan Stanley Research contains more complete information concerning the analyst's views
the time frame for price targets included in Morgan Stanley Research is 12 to 18 months.
are available on the Morgan Stanley Wealth Management disclosure website at www.morganstanley.com/online/researchdisclosures. For Morgan Stanley specific disclosures
Morgan Stanley may have an investment of less than 1% in securities/instruments
professionals in other Morgan Stanley business areas
Hong Kong Branch; in Singapore by Morgan Stanley Asia (Singapore) Pte. (Registration number 199206298Z) and/or Morgan Stanley Asia (Singapore) Securities Pte
Frankfurt am Main and Morgan Stanley Private Wealth Management Limited
regulated by Bundesanstalt fuer Finanzdienstleistungsaufsicht (BaFin); in Spain by Morgan Stanley
which accepts responsibility for its contents. Morgan Stanley & Co. International plc
research which has been prepared by any of its affiliates. RMB Morgan Stanley Proprietary Limited is a
which is wholly owned by FirstRand Limited. The information in Morgan Stanley Research is being disseminated by
we saw a lot of things we recognized in a 76-page Morgan Stanley paper on bank deleveraging and real estate.
including that Morgan Stanley constructed and
Morgan Stanley High Tech Index (up 2.6%) and The Interactive Week Internet Index (3.4%) all traded to the highest