UPDATE: Morgan Stanley Reiterates On Concord Medical Services Holdings Ltd. On Unsurprising 3Q14 - Concord Medical Services (NYSE:CCM)

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

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Concord Medical Services Holdings Ltd.

(NYSE: CCM), but removed the $7.00 price target.In the report, Morgan Stanley noted, “CCM's 3Q14 non-GAAP EPS of Rmb0.72 beat our estimate by 25%, mainly due to lower G&A expenses caused by the collection of bad debt. Management reiterated 2014 guidance of EPS of US$0.45-0.50 (+25-38% YoY), given the solid operation performance.”Concord Medical Services Holdings Ltd. closed on Monday at $6.94.