UPDATE: Morgan Stanley Lowers PT on Grupo Simec from $12.10 to $12.00

Morgan Stanley maintained an Overweight rating on Grupo Simec SIM and lowered its price target from $12.10 to $12.00. Morgan Stanley commented, “We remain Overweight Simec post 2Q12 results that missed our EBITDA estimates by 4–5%. Continued progress on the cost reduction front is encouraging. We still see SBQ as an attractive niche steel sector.” Grupo Simec closed at $9.75 on Thursday.