UPDATE: Morgan Stanley Reiterates Overweight Rating, Removes PT on WuXi PharmaTech on Soft 2014 Guidance

In a report published Thursday, Morgan Stanley analyst Bin Li reiterated an Overweight rating on WuXi PharmaTech WX, but removed the $38.00 price target. In the report, Morgan Stanley noted, “WX 4Q13 non-GAAP EPS of US$0.53 beat our est by 18% on higher other income (US$0.07 EPS benefit). Although OPM may face headwinds in 2014 from increasing investment in new businesses, sales force expansion and R&D, we are supportive as all provide long-term benefits.” WuXi PharmaTech closed on Wednesday at $39.37.