UPDATE: Morgan Stanley Lowers PT on Dover from $65 to $64

Morgan Stanley reiterates an Equal-Weight rating on Dover

and lowers its price target from $65 to $64. Morgan Stanley notes, “DOV's negative pre-announcement was taken well by the market, indicating that the guide-down was largely expected. However, we still see downside risk to the FY12 plan as well as the stock price in our bear case scenario. Reiterate EW; we lower our price target from $65 to $64.” Dover closed at $4.14 on Monday.