UPDATE: Morgan Stanley Reiterates on Tyco International Following Sale of ADT Korea

In a report published Tuesday, Morgan Stanley analyst Nigel Coe reiterated an Overweight rating on Tyco International (NYSE: 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 closed on Monday at $43.02.