UPDATE: Morgan Stanley Downgrades Mylan on Binary Near-Term Stock Drivers, Robust Long-Term Growth Outlook

In a report published Monday, Morgan Stanley analyst David Risinger downgraded the rating on

from Overweight to Equal-Weight, and removed the $41.00 price target. In the report, Morgan Stanley noted, “Long-term growth outlook remains robust. We see a compelling pipeline of high-value, limited competition opportunities in the U.S. Ex-U.S. generics prospects have improved due to governments pushing for more generic drug adoption. We believe that the market now better appreciates the strength and durability of Mylan's global platform Near-term stock drivers are binary.” Mylan closed on Friday at $39.91.