UPDATE: Morgan Stanley Reiterates Equal-Weight Rating, Raises PT on The Corporate Executive Board Company

In a report published Friday, Morgan Stanley reiterated its Equal-Weight rating on The Corporate Executive Board Company CEB, and raised its price target from $43.00 to $47.00. Morgan Stanley noted, “We expect CEB to generate greater operating leverage in its business model as the business scales and acquisitions become integrated. Risks include deceleration in growth due to economic weakness or execution risk. The SHL acquisition creates opportunities for cross-selling, but also presents integration risk. We find CEB to be fairly priced based on our DCF valuation.” The Corporate Executive Board Company closed on Thursday at $5.60.