Morgan Stanley Reiterates Overweight, Raises PT On Best Buy On Steady Progress

In a report published Wednesday, Morgan Stanley analyst Simeon Gutman reiterated an Overweight rating on Best Buy Co Inc BBY, and raised the price target from $40.00 to $43.00. In the report, Morgan Stanley noted, "Raising price target to $43. BBY transformation story continues to make progress. Though 2015 will see stepped up investments, business more stable, buybacks resume and investments should pay off." Best Buy closed on Tuesday at $39.18.