UPDATE: Morgan Stanley Raises PT to $16 on Envestnet

Morgan Stanley raises its price target to $16 on Overweight-rated Envestnet

to reflects the company's M&A pipeline. Morgan Stanley says, "The acquisitions ENV announced over the past few months illustrates mgmt taking advantage of market opportunities to deliver on its growth strategy. We previously reflected $1 in our bull case from M&A which we now include in our $16 price target. We expect investments in '12 to add to LT growth." ENV closed at $13 a share on Friday.