Dec 17 (Reuters) - Wells Fargo&Co:

* Morgan Stanley cuts Wells Fargo&Co price target to $42 from $44;

rating overweight

* Morgan Stanley cuts Wells Fargo&Co price target on back of

announced common equity issuance and tarp repayment

* Morgan Stanley cuts Wells Fargo&Co 2010 earnings per share view to

$2.43 from $2.53

* Morgan Stanley cuts Wells Fargo&Co 2010 estimates as share dilution

more than offsets benefit of lower preferred divs

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