Morgan Stanley said Keurig Green Mountain trades at a material discount to peers and valuation is unsustainably low. The firm's analyst believes the core Hot business can re-accelerate in 2016 to 7% topline growth following weak initial 2.0 brewer sales and mix headwinds from recent contract wins. Morgan Stanley remains positive on KOLD potential and said strong product quality and innovative technology will drive adoption. The firm adjusted 2016 estimates and lowered its price target to $130 from $140 to reflect a more gradually rollout of KOLD but maintains its Overweight rating.