UPDATE: Morgan Stanley Upgrades St. Jude Medical; Establishes PT

According to a research report published this morning, Morgan Stanley has upgraded St. Jude Medical STJ from Equal-weight to Overweight, and established a $52 PT. Morgan Stanley said in the report, "Our cardiology deep dive suggests St. Jude is best positioned to benefit from new cardio markets and has more room for margin expansion. Durata concerns have pressured the stock, but likely fade after an uneventful Heart Rhythm Society (HRS) meeting. We're upgrading St. Jude to Overweight." St. Jude Medical is currently trading at $38.31.