Wells Fargo, U.S. Bancorp cut to Equalweight at Morgan Stanley (WFC:NYSE)

Morgan Stanley downgraded Wells Fargo (NYSE:WFC) and U.S. Bancorp (NYSE:USB) to Equalweight from Overweight, on valuation and Morgan Stanley’s less optimistic estimates for the banks’ net interest income.

For Wells Fargo (NYSE:WFC), analyst Betsy Graseck sees the bank’s stock