UPDATE: Morgan Stanley Downgrades Health Net to Underweight

Morgan Stanley lowers its rating on Health Net HNT to Underweight from Equal-weight as it sees less upside in the company compared to its industry. Morgan Stanley says, "We are lowering our rating on HNT from EW to UW, within our Attractive view of the managed care industry, as we see more relative upside in other names within our coverage. There is no change to our industry view." HNT closed at $34.90 per share on Thursday.