UPDATE: Morgan Stanley Initiates Coverage on Manitowoc on Non-Resi Construction Exposure

In a report published Thursday, Morgan Stanley analyst Nicole DeBlase initiated coverage on Manitowoc Company (NYSE: MTW ) with an Equal-Weight rating and $23.00 price target. In the report, Morgan Stanley noted, “MTW has significant exposure to US Non-Resi Construction, which we view in a favorable light. However, if we