UPDATE: Morgan Stanley Reiterates Equal-Weight Rating, Names $6 PT on Arcos Dorados Holding on Updated Estimates

In a report published Tuesday, Morgan Stanley analyst Jeronimo De Guzman reiterated an Equal-Weight rating on

, and named a $6.00 price target. In the report, Morgan Stanley noted, “We update our estimates to reflect weaker FX, lower unit expansion, and higher margin pressure, leading to EBITDA reductions of 9% for 2014 and 13% for 2015. We remain cautious, given risks from weaker top line/margin trends and higher leverage levels.” Arcos Dorados Holding closed on Monday at $5.47.