UPDATE: Morgan Stanley Downgrades DemandTec to Underweight

A report from Morgan Stanley reiterates its $7 price target and downgrades its rating to Underweight on DemandTec (NASDAQ:

). The report states, “Single-digit organic growth in FY12 implies risk to consensus FY13 estimates looking for revenue growth to reaccelerate to 13%, vs. us at 9%. DMAN trades at 22x EV/CY12e FCF, in line with companies growing 15%+, an unsupported level in our view." DMAN closed yesterday at $8.36.