Morgan Stanley Underweight on Haemonetics

Morgan Stanley is out with a research report on Haemonetics

and it has an Underweight rating and a $55 price target on shares. In a note to clients, Morgan Stanley writes, "The reduced EPS outlook may prove appropriate, but we remain cautious given multiple recent revenue and earnings revisions. Our 15% EPS growth estimate in FY13 is achievable, but imperfect execution on revenue reacceleration or a longer tail to remediation expenses could drive additional downside." Shares of HAE lost $2.90 yesterday to close at $60.95.