UPDATE: Morgan Stanley Downgrades Warner Chilcott to Underweight
Morgan Stanley reduced its rating on Warner Chilcott (NASDAQ: WCRX) 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.
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