UPDATE: Morgan Stanley Reiterates Overweight Rating, Lowers PT on WuXi PharmaTech (Cayman) Inc. (ADR) on High Near-Term Investment

In a report published Tuesday, Morgan Stanley analyst Bin Li reiterated an Overweight rating on

, but lowered the price target from $45.00 to $42.00. In the report, Morgan Stanley noted, "We cut our PT and bottomline ests on higher expenses for new businesses in 2015/16. However, we remain positive on WX's long term prospects, given 1) solid growth in the core business; and 2) more upside in genomics and other B2C businesses with EPS accretion beginning in 2017." WuXi PharmaTech (Cayman) Inc. (ADR) closed on Monday at $36.57.