UPDATE: Morgan Stanley Reiterates Equal-Weight Rating, Raises PT on Wolverine World Wide, Inc. as Somewhat Negative Bias Turns Neutral

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

, and raised the price target from $28.00 to $29.00. In the report, Morgan Stanley noted, "FX and West Coast port issues overhang, but 4Q14 fundamentals showed promising trends. 2015 is an investment year, but we see potential for WWW to return to double-digit FY16 EPS growth. Downward EPS revisions likely slow, but we don't see a positive catalyst or much PT upside. Stay EW." Wolverine World Wide, Inc. closed on Tuesday at $28.23.