Morgan Stanley Removes Linear Technology Corporation From Best Ideas List

In a note released Friday morning, Morgan Stanley analyst Craig Hettenbach explained the reasons why

was removed from the firm's Best Ideas List, despite having its Overweight rating maintained. Hettenbach commented, "We view LLTC as a core holding within the group due to its leading power management franchise, strong growth, and superior profitability/returns. However, the stock is being removed from the Best Ideas list as catalysts have been slower to materialize." He said the company was "significantly" ahead of peers in positioning itself for emerging trends in the auto and industrial markets. Furthermore, Hettenbach believes Linear can post 10 percent revenue growth in a steady 2-3 percent GDP growth environment. Morgan Stanley currently has a $54 price target for Linear and is expecting an EPS of $2.38 in fiscal 2015.