UPDATE: Morgan Stanley Downgrades Dean Foods as Turnaround is Soured by Lower 2014 Outlook

In a report published Monday, Morgan Stanley analyst Matthew Grainger downgraded the rating on Dean Foods Co. (NYSE: DF ) from Overweight to Equal-Weight, and lowered the price target from $22.00 to $20.00. In the report, Morgan Stanley noted, “Downgrading DF to EW as we see downside to 2014 EPS;