UPDATE: Morgan Stanley Reiterates Overweight Rating, Raises PT on Tyco International Ltd. Following Sale of ADT Korea

In a report published Tuesday, Morgan Stanley analyst Nigel Coe reiterated an Overweight rating on

, and raised the price target from $46.00 to $47.00. In the report, Morgan Stanley noted, “The sale of ADT Korea was a clear positive, and despite recent outperformance, we continue to see levers for EPS upside and multiple re-rating, namely non-resi market recovery, LT guidance top-up and balance sheet optionality. Reiterate OW.” Tyco International Ltd. closed on Monday at $43.02.