UPDATE: Morgan Stanley Raises SPX's PT

According to a research report published today, Morgan Stanley has increased SPX Corp.'s

PT from $84 to $85, with the potential move above $100 in the future. In the report, Morgan Stanley explained, “We have updated our SotP valuation, which sees our PT increase to $85 from $84, representing attractive 21% upside following the sell-off over the past couple of days. However, if management continues to realize strategic value from its non-Flow assets (Service Solutions was sold at a multiple of 12.7x trailing EBITDA) then we see fair value in excess of $100.” Morgan Stanley maintains its Overweight rating on SPX, which closed yesterday at $70.03.