UPDATE: Morgan Stanley Reiterates on Teleflex on Significant Near-Term Catalyst

In a report published Wednesday, Morgan Stanley analyst David R. Lewis reiterated an Overweight rating on

, and raised the price target from $114.00 to $120.00. In the report, Morgan Stanley noted, “Teleflex's margin expansion initiative is likely catalyzed by a restructuring announcement in 1H14. Increased visibility on earnings upside and an emerging, underappreciated organic revenue picture bode well for both EPS upside and the multiple. We are increasing our PT to $120.” Teleflex closed on Tuesday at $104.02.