Morgan Stanley cuts PT for Australia's QBE Insurance on pricing concerns

** Analysts at Morgan Stanley lower price target for Australia's QBE Insurance Group QBE to A$23.50 from A$25; maintain "overweight" rating

** Morgan Stanley says pricing for the quarter-ended September has continued to slow for QBE, especially gross written premium from U.S. excess and surplus lines businesses are slowing from mid-teens to low-single digits

** Expect a solid Q3 update for QBE Insurance due to low catastrophe activity and investment yields broadly holding up - Morgan Stanley

** Three of 12 analysts rate the stock "strong buy", five rate "buy", three rate "hold" and one rates "sell"; set median PT at $23.50, according to data compiled by LSEG

** QBE down 0.4% at A$19.53; YTD up 1.7%