BUZZ-Experian: MS cautious on 2019, starts with 'underweight'

** Morgan Stanley initiates coverage of biggest credit data firm (-0.2%) with "underweight" rating and 1,800p PT

** Says remains convinced of co's long-term potential to deliver robust organic growth, but sees risks to near-term consensus expectation of margin expansion for FY 2020, as credit conditions tighten and costs increase

** "Valuation is punchy, so we suggest taking profits" - MS

** "The broader direction of organic growth in the near-term, and slowing consumer credit growth makes us cautious on 2019," it adds

** In FY20, MS expects Experian's B2B (business-to-business) organic growth to slow from +8.5% to +6.5% and at the same time estimates an increase in organic growth of its B2C (Business to consumer) business from +7% to +9% (Reporting By Geetha Panchaksharam)