Morgan Stanley Focuses on 2014 Outlook for Affymetrix

In a report published Thursday, Morgan Stanley analyst Daniel Brennan reiterated an Underweight rating and $7.20 price target on

. In the report, Morgan Stanley noted, “With Q4 already pre-announced, focus was on underlying drivers, '14 outlook, and tone. Management remains confident in a growth inflection, with rev guidance above MS/street, though margin outlook disappointing.” Affymetrix closed on Wednesday at $8.34.