UPDATE: Morgan Stanley Reiterates on Meritor Following District Court Order

In a report published Monday, Morgan Stanley analyst Ravi Shanker reiterated an Overweight rating on

, but removed the $9.00 price target. In the report, Morgan Stanley noted, “On Friday, December 20, The District Court of Delaware issued an order in the ZF Meritor LLC and Meritor Transmission Corp. (Plaintiffs) vs. Eaton Corp. (Defendant) case 1) denying the Defendant's motion for judgment 2) granting the Plaintiff's motion for a pretrial schedule to determine damages. The Third Circuit court previously had determined that Eaton's ‘market share based discounts' were unlawful even if the prices were above cost given Eaton's dominant position in the market. The case now proceeds to trial to determine the damages that Defendant should pay the Plaintiffs. A conference to schedule the damages trial will be conducted by the court on Tuesday, January 14, 2014 at 2pm.” Meritor closed on Friday at $8.16.