Morgan Stanley reiterates its Overweight on Acros Dorados Holdings ARCO and cuts its target by $3 to $25 a share on long term opportunities.
Morgan Stanley notes, "We are reducing our estimates to reflect slower top-line growth in 4Q11 and into 1H12, and our price target (to $25 from $28). We see near-term pressure, but a positive long-term expansion opportunity."
ARCO closed at $22.94 a share on Monday.
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