UPDATE: Morgan Stanley Upgrades Lowe's to Equal-Weight

Morgan Stanley raises its rating on Lowe's LOW to Equal-Weight as it increases its price target to $30 on higher EBIT and Buyback. Morgan Stanley notes, "We upgrade LOW as we have increased our base case value to $30, primarily due to 3-10% higher EBIT as well as buyback assumptions. We remain cautious on home improvement growth near-term, but see potential upside risk and have increased industry growth estimates." LOW closed at $28.38 a share on Thursday.