UPDATE: Morgan Stanley Upgrades H.J. Heinz Company to Equal-Weight Following Deal

Morgan Stanley upgraded H.J. Heinz Company

from Underweight to Equal-weight and raised the price target to $72.50. Morgan Stanley commented, "Following the announcement of HNZ's acquisition by Berkshire/3G for $72.50/shr, we move to EW. We view the transaction as positive for sector valuation generally, given speculation on further M&A/divestitures, but do not necessarily view this as precedent for further similarly large transactions." H.J. Heinz Compan closed at $72.50 on Thursday.