Benzinga | Oct 14, 2021 08:00AM EDT

Morgan Stanley Upgrades National Vision Citing 'Healthy' Optical Category Growth

* Morgan Stanley analyst Simeon Gutman upgraded National Vision Holdings Inc (NASDAQ:EYE) to Overweight from Equal Weight with the price target of $70 (suggesting a 24.4% upside), up from $57.

* The analyst sees "healthy" optical category growth in 2022 and 2023, "amplified" by National Vision's continued share gains.

* Gutman said the company is one of the best-positioned growth stories in his coverage.

* Historically, National Vision has taken nine basis points of market share per year, and there is no reason to believe these share gains will slow in a post-Covid environment, Gutman notes.

* Price Action: EYE shares are trading higher by 4.32% at $58.70 in premarket on the last check Thursday.