UPDATE: Morgan Stanley Initiates Veeco Instruments at Equal-Weight on Medium-Term Outlook

Morgan Stanley initiates its coverage on Veeco Instruments

with an Equal-weight rating. Morgan Stanley notes, "We initiate on Veeco, a leading equipment maker of LEDs and data storage, with an Equal-weight rating. We think Veeco can maintain recent share gains in the LED equipment manufacturing space, but the medium-term outlook for the overall market is uncertain." VECO closed at $32.75 on Wednesday.