UPDATE: Morgan Stanley Reiterates Overweight Rating, Removes PT on MobileIron on Increased Confidence

In a report published Friday, Morgan Stanley analyst James E. Faucette reiterated an Overweight rating on

, but removed the $13.00 price target. In the report, Morgan Stanley noted, “As part of VMworld, we met with AirWatch cofounder Alan Dabbierre, who is now overseeing the AirWatch operating board within VMware (VMware acquired AirWatch in January of this year). During the wide-ranging conversation, Dabbierre indicated that they typically run into MobileIron competitively most frequently of the other mobile device and platform offerings. In spite of seeing MobileIron frequently, he felt like most customers ultimately develop preferences based on views of the software performance and other factors outside of prices. This is consistent with our view that most customers ultimately are choosing between the two suppliers based on other factors, like specific solution strengths, software update policies, buying channel preferences,etc.” MobileIron closed on Thursday at $11.87.