UPDATE: Morgan Stanley Reiterates On Concord Medical Services Holdings Ltd. On Unsurprising 3Q14

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