UPDATE: Morgan Stanley Downgrades Weatherford International

In an report published Tuesday morning, Morgan Stanley analyst Ole Slorer downgrades Weatherford International

from Overweight to Equal-weight, lowering price target from $18.50 to $17. The report notes that a slow-growoth environment is the primary catalyst, "While we do expect the company to put its back office issues around taxes and DoJ settlements behind them, we note that it is likely to take a high-growth environment for the stock to outperform." WFT closed previously on Mondy at $14.29 and currently trading at $14.26.