Morgan Stanley is Waiting for Signs of Execution on ADT Corp.

In a report published Thursday, Morgan Stanley analyst Nigel Coe reiterated an Equal-Weight rating and $35.00 price target on

. In the report, Morgan Stanley noted, “It appears that ADT management is finally acknowledging its shortcomings and competitive threats. This change in tone is encouraging, but initiatives will take time to bear fruit and we await signs of execution.” ADT Corp. closed on Wednesday at $29.10.