Beam Inc. has been one of the most talked about spirits companies since it separated from Fortune Brands last year. Its growth has largely been driven by new innovations, acquisitions of fast growing brands, and promotions in 2010 and 2011. The question now is will that momentum last? How is pricing? And what are the chances it will eventually sell some or all of its brands to the likes of Diageo or Pernod Ricard? Morgan Stanley, which has initiated coverage of Beam, took a look at all of these issues in a recent note to clients.