Odeon Capital analyst Richard Bove upgraded Morgan Stanley MS, +2.12% on Wednesday from hold to buy on the growth of its wealth management unit as well as an increase in investment banking. Bove says Morgan Stanley will be able to benefit from the Federal Reserve’s policies, which haven’t constrained money supply as much despite rate increases. Bove stated that Morgan Stanley is able to thrive in a situation like this. Bove: “Therefore, earnings may be higher than expected ….The debt and preferred offer are attractive.”