UPDATE: Morgan Stanley Reiterates On Dreamworks As 2Q Results Provide More Questions Than Answers

In a report published Wednesday, Morgan Stanley analyst Ryan Fiftal reiterated an Equal-Weight rating on

, but removed the $24.00 price target. In the report, Morgan Stanley noted, “DWA announced that the SEC is conducting an investigation related to its prior Turbo write-down (4Q13). DWA is cooperating with the investigation, though no other details were provided. This clearly raises uncertainty in a stock that we think already carries higher risk (both strategic and operational), and the added uncertainty may keep incremental buyers on the sidelines until more clarity is provided.” Dreamworks Animation SKG closed on Tuesday at $22.66.