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Bank Stocks With Upside: Grasso

One under-the-radar financial name, along with another major bank, still looks good ahead of Morgan Stanley quarterly earnings, Stuart Frankel's Steve Grasso said Wednesday on CNBC's "Fast Money."

Goldman Sachs, which posted better-than-expected quarterly results, looks to climb almost another $10 per share.

"If it holds this level, it's $150," he said. "It has not disappointed. This bank has outperformed 99 percent of the space."

Grasso pointed out that the stock had climbed steadily through $119 and $130 levels.

"But another name that goes after that private wealth segment of the population is First Republic, FRC," he said. "That's a name under radar, outperforms."

Karen Finerman of Metropolitan Capital Advisors was also a buyer, noting that valuation based on price-to-earnings multiples remained cheap in names such as Bank of America and Citigroup.

"I like the space still," she said. "Everything seems to be working."

EmergingMoney.com's Tim Seymour said he would still be a buyer of the financial sector — specifically calling out the value in Morgan Stanley, which reports on Friday.

Not so, Goldman Sachs.

"I think this is where you fade it," he said. "This is your burst, and this is where you get out."

Dan Nathan of Risk Reversal said the fourth quarter was the time to enter the trade.

"To me, it's kind of a beta chase with a lot of these names," he said.


Symbol
Price
 
Change
%Change
MS
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GS
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FRC
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BAC
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C
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