UPDATE: Morgan Stanley Initiates Coverage On Balanced Risk-Reward

In a report published Monday, Morgan Stanley analyst Andrew Schenker initiated coverage on Adeptus Health (NYSE: ADPT) with an Equal-Weight rating.

In the report, Morgan Stanley noted, “We are initiating on ADPT with an EW rating on a balanced risk reward. While the extended development pipeline gives us comfort with near term growth, uncertainty remains longer term due to the regulatory environment ex-Texas, reimbursement, and structural trends shifting care outside EDs.”

Adeptus Health closed on Friday at $26.15.