UPDATE: Morgan Stanley Upgrades BB&T on Declining Expenses in 2H14

In a report published Wednesday, Morgan Stanley analyst Betsy L. Graseck upgraded the rating on BB&T Corporation (NYSE: BBT ) from Equal-Weight to Overweight, and raised the price target from $39.00 to $40.00. In the report, Morgan Stanley noted, “We are Overweight BBT as we expect cost saves to accelerate