UPDATE: Morgan Stanley Raises PT on CF Industries from $215 to $250

Morgan Stanley reiterated an Overweight rating on CF Industries

and raised its price target from $215 to $250. Morgan Stanley noted, “We expect consistent, measured, share repurchases, absent market dynamics that would encourage more aggressive action. Over time, we expect the consistency of this process to be viewed similar to a dividend, likely leading to a narrowing of CF's significant valuation gap with nitrogen MLPs.” CF Industries closed at $206.07 on Tuesday.