UPDATE: Morgan Stanley Reiterates Equal-Weight Rating, Lowers PT On Neff Corp. On Model Update

In a report published Wednesday, Morgan Stanley analyst Nicole DeBlase reiterated an Equal-Weight rating on Neff Corp. (NYSE: NEFF), but lowered the price target from $18.00 to $17.00.

In the report, Morgan Stanley noted, "NEFF's first quarter as a publicly traded company was strong, but investors remain concerned about the potential for O&G contagion to leak into the equipment rental space-especially since NEFF has not embedded deterioration into its 2015e outlook. We maintain our Equal-weight rating."

Neff Corp. closed on Tuesday at $10.54.