BROKERWATCH Credit Agricole started as 'overweight' at Morgan Stanley

Thu. July 24, 2008; Posted: 02:57 AM

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LONDON, Jul 24, 2008 (Thomson Financial via COMTEX) -- MS | Quote | Chart | News | PowerRating -- Morgan Stanley has resumed Credit Agricole SA. as 'overweight' with a price target of 18 euros, market sources said.

Morgan Stanley said in a note this morning it is resuming coverage on Credit Agricole as it believes the market will give the group credit for its reallocation of capital to the lower risk and less capital intensive retail business.

joanne.frearson@thomsonreuters.com jf/kf1

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