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Morgan Stanley downgraded Tupperware Brands
TUP from Overweight to Equal-weight and removed the $90.00 price target.
Morgan Stanley commented, "We are downgrading TUP to EW, as two catalysts we cited previously have played out: (1) better-than-expected 2013 EPS guidance and (2) greater cash to shareholders. In addition, valuation is less compelling after a 44% run-up in the stock over the last six months, vs. 8% for the S&P 500."
Tupperware Brands closed at $79.25 on Friday.
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