UPDATE: Morgan Stanley Upgrades Dresser-Rand Group; Nat Gas Pricing Good for Business

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Morgan Stanley raises its rating on Dresser-Rand Group (NYSE: DRC) from Equal-weight to Overweight and announces a price target of $65 per share. Morgan Stanley comments, "We upgrade DRC to OW, as E&Cs in Houston last week indicated that they are witnessing a step-change in tendering for downstream activity fueled by prolonged weak US nat gas prices. This is on top of already strong upstream activity driven by int'l LNG and deepwater infrastructure demand." DRC closed at $47.99 on Monday.

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