UPDATE: Morgan Stanley Reiterates On Chico's FAS, Inc. Following Analyst Day

In a report published Wednesday, Morgan Stanley analyst Kimberly C. Greenberger reiterated an Equal-Weight rating on Chico's FAS, Inc. CHS, and named a $15.00 price target. In the report, Morgan Stanley noted, “Mgmt is confident it has made the right adjustments to deliver improved financial results. The market expects a 4Q14 turnaround, but at 18.5x FY15 EPS the stock is not priced to disappoint. If CHS can deliver a positive 4Q comp and GM expansion, current valuation may be warranted; remain EW.” Chico's FAS closed on Tuesday at $15.44.