In a report published Tuesday, Morgan Stanley analyst Nigel Coe reiterated an Overweight rating on Tyco International Ltd. TYC, and raised the price target from $46.00 to $47.00.
In the report, Morgan Stanley noted, “The sale of ADT Korea was a clear positive, and despite recent outperformance, we continue to see levers for EPS upside and multiple re-rating, namely non-resi market recovery, LT guidance top-up and balance sheet optionality. Reiterate OW.”
Tyco International Ltd. closed on Monday at $43.02.
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