UPDATE: Morgan Stanley Initiates Coverage on Adeptus Health with Equal-Weight Rating on Balanced Risk-Reward

In a report published Monday, Morgan Stanley analyst Andrew Schenker initiated coverage on

with an Equal-Weight rating on

. In the report, Morgan Stanley noted, “We are initiating on ADPT with an EW rating on a balanced risk reward. While the extended development pipeline gives us comfort with near term growth, uncertainty remains longer term due to the regulatory environment ex-Texas, reimbursement, and structural trends shifting care outside EDs.” Adeptus Health closed on Friday at $26.15.