UPDATE: Morgan Stanley Reiterates Overweight Rating, Removes PT on Best Buy Co. on Multiple Positive Factors

In a report published Monday, Morgan Stanley analyst Simeon Gutman reiterated an Overweight rating on

, but removed the $36.00 price target. In the report, Morgan Stanley noted, “Product drivers heading into holiday are becoming clearer; 4K TV adoption is growing and mobile phones have renewed momentum. Our analysis of installment pricing also points to a modest top-line boost.” Best Buy Co. closed on Friday at $32.94.