Morgan Stanley Channels Weird Al to Raise Stock Forecast
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Like many of us who’ve been in the vicinity of an FM radio or Jersey Shore club in the past month, the strategists at Morgan Stanley have Meghan Trainor’s song “All About That Bass” stuck in their heads.
Unlike the rest of us, however, Adam Parker and company managed to re-interpret the hit into a reason to be bullish about U.S. stocks. In a report that reads as if Weird Al Yankovic had taken a weird career turn and become a market strategist, Morgan Stanley’s “All About That Base (No Trouble)” note announced an increase in the firm’s 12-month forecast for the Standard & Poor’s 500 Index to 2,125.