UPDATE: Morgan Stanley Downgrades WellPoint to Equal-Weight on Risks

Morgan Stanley reduces its coverage on WellPoint

from Overweight to Equal-weight. Morgan Stanley commented, "We are downgrading WLP from OW to EW, as the key risks to our OW thesis have emerged: (1) failure to demonstrate cost trend visibility & core business stability and (2) signs of commercial mispricing. Our lowered 2013E EPS sits $0.11 below the Street." Wellpoint closed at $57.84 on Thursday.