UPDATE: Morgan Stanley Downgrades Warner Chilcott to Underweight on Long Term Visibility Lack

Morgan Stanley reduced its rating on Warner Chilcott

from Equal-weight to Underweight. Morgan Stanley commented, "We are downgrading WCRX from EW to UW; we see a more favorable risk-reward in other stocks. We question Warner's LT prospects since we est. 80% of 2013E revs are potentially threatened by generics, but future pipeline success and/or M&A could boost prospects." Warner Chilcott closed at $17.20 on Monday.