UPDATE: Morgan Stanley Raises Watson Pharmaceuticals' PT

According to a research report published this morning, Morgan Stanley has increased Watson Pharmaceuticals'

PT from $65 to $84. Morgan Stanley said in the report, "We are raising our pro forma '13-‘15E EPS by 30%- 60% and raising our PT by 30% to $84 (10.5x pro forma ‘13E of $8.01) on the heels of the strategically compelling and highly-accretive Actavis deal." Morgan Stanley maintains its Overweight rating on Watson Pharmaceuticals, which closed yesterday at $69.69.