UPDATE: Morgan Stanley Upgrades Westport Innovations to Equal-Weight

Morgan Stanley raises its price target to Equal-weight from Underweight on Westport Innovations

as it believes pullback on stock represents opportunities. Morgan Stanley notes, "WPRT rose more than 250% in little more than a year but has since retreated 25% from last month's high. Recent macro and technical factors have exacerbated a pull back related to misunderstood news regarding the CMI JV, all of which provides a buying opportunity ahead of positive catalysts." WPRT closed at $35.70 yesterday.