HSBC downgraded Wall Street banks Goldman Sachs (NYSE:GS) and Morgan Stanley (NYSE:MS) to Hold from Buy as the stocks' recent rallies have more than reflected their improved fundamental outlooks. As analyst Saul Martinez puts it, he's "more positive on ...

Goldman Sachs Group Inc. and Morgan Stanley shares are showing an “unattractive risk reward profile” in the wake of the recent bank rally, HSBC analysts said, adding that investors should be wary of arguments that an investment banking “supercycle” will drives shares much higher.