0340 GMT - Westpac is seen by Morgan Stanley analysts as the most vulnerable of Australia's major lenders to growing margin pressures. The MS analysts tell clients in a note that consumers are becoming more willing to move deposits, and say Westpac would experience the largest margin impact from a shift in transaction balances to high-rate savings accounts. At the same time, the analysts point to management commentary that Westpac wants to win back lost mortgage market share. With competition rising amid a policy driven slowdown in home-loan growth, they see Westpac's margins as especially vulnerable. MS keeps an underweight recommendation on the stock and lowers its target price on the stock by 3.2% to 30.50 Australian dollars. Shares are down 0.3% at A$37.90.