UPDATE: Morgan Stanley Reiterates On HD Supply Following Solid 1Q Report

In a report published Wednesday, Morgan Stanley analyst Nigel Coe reiterated an Equal-Weight rating on

, and raised the price target from $28.00 to $30.00. In the report, Morgan Stanley noted, “Perhaps the biggest surprise to 1Q was that there were no surprises. Execution was the operative word in 1Q as fundamentals were broadly in-line to better than expected. While we see a clearer path to upside vs. guidance, it is largely baked into our estimates. Our PT goes to $30.” HD Supply closed on Tuesday at $28.60.