Morgan Stanley Reiterates Equal-Weight, Raises Price Target On Haemonetics As Emerging FY16 Stability Brings Search For Upside

In a report published Monday, Morgan Stanley analyst James Francescone reiterated an Equal-Weight rating on

, and raised the price target from $41.00 to $45.00. In the report, Morgan Stanley noted, "Recent management meetings showed increased confidence in growth stability into FY16. While valuation of 19x CY16 EPS suggests an FY16 recovery is becoming priced into shares, growing visibility on several pockets of potential upside could sustain positive momentum through FY16." Haemonetics closed on Friday at $43.63.