BUZZ-GlaxoSmithKline ADRs hit 4-1/2 month lows on MS downgrade

** GlaxoSmithKline ADRs down 1.8 pct to lowestlevels since mid-Jan after Morgan Stanley cuts stock to"equalweight" and trims its price target on stock

** Co's capital markets day "proved our optimism wasmisplaced" broker says as uncertainty over legacy Pharmabusiness offsets recovery in higher-margin OTC and vaccinesbusiness

** MS cut its estimates for 2015-20 EPS by 10-18 pct

** Better short-term value at peers Roche and Shire, MS says

** Glaxo's primary listing in London ended down 1.8pct

(RM: vikram.subhedar.thomsonreuters.com@reuters.net)