UPDATE: Morgan Stanley Reiterates Overweight Rating, Raises PT on H&R Block on Continued Upside

In a report published Monday, Morgan Stanley analyst Thomas Allen reiterated an Overweight rating on

, and raised the price target from $35.00 to $38.00. In the report, Morgan Stanley noted, “We're updating our estimates and increasing our PT to $38 (from $35) following HRB's strong F14 results. Solid execution raises our confidence that mgmt can deliver on the EPS growth trajectory that we hope for. NT catalysts appear to be positive drivers; reiterate OW.” H&R Block closed on Friday at $32.49.