UPDATE: Morgan Stanley Upgrades Stanley Black & Decker to Overweight on Construction Recovery

Morgan Stanley raised its rating on Stanley Black & Decker

from Equal-weight to Overweight and increased its price target from $75 to $76. Morgan Stanley said, "SWK has a number of key attributes – a “self-help” story with a strong 11% FCF yield and significant leverage (41%) to a US Construction recovery. After sharp YTD underperformance, the stock now also trades at an outsized 19% discount to sector." Stanley Black & Decker closed at $66.06 on Wednesday.