UPDATE: Morgan Stanley Initiates Coverage on Taminco Corp. with Equal-Weight Rating on Balanced Risk, Fair Valuation

In a report published Wednesday, Morgan Stanley analyst Charles A. Dan initiated coverage on Taminco Corp. TAM with an Equal-Weight rating. In the report, Morgan Stanley noted, “Taminco's growth profile and strong position in an attractive industry should appeal to many investors. Risks appear balanced, and we believe valuation is fair, despite outperformance since the IPO. Initiating coverage at Equal-weight with a $23 base case.” Taminco Corp. closed on Tuesday at $19.99.