Morgan Stanley Believes 1H14 Financials Confirm Critical State for Mechel OAO

In a report published Tuesday, Morgan Stanley analyst Dmitriy Kolomytsyn reiterated an Underweight rating and $0.50 price target on

. In the report, Morgan Stanley noted, “Mechel's results provided evidence of the company's urgent need for debt restructuring. However, the release did not provide much guidance/visibility on the company's future.” Mechel OAO closed on Monday at $0.78.