UPDATE: Morgan Stanley Lowers VisionChina Media's PT

According to a research report published earlier today, Morgan Stanley has lowered VisionChina Media's VISN PT from $3 to $2.80. Morgan Stanley commented in the report, “VisionChina reported record sales and improved on-GAAP net margin in 4Q. Despite its soft 1Q outlook, we expect the company to return to profitability this year, helped by improving sales growth and operating leverage.” Morgan Stanley maintains its Overweight rating on VisionChina, which closed yesterday at $1.69.