Morgan Stanley analyst Toni Kaplan expects the exit of ADT CEO Tim Whall to be viewed negatively by investors and she predicts the stock to trade down by "mid-single-digits" today following the announcement, adding that she had viewed Whall as one of the CEOs most difficult to replace in the event of a succession. ADT said president Jim DeVries will be promoted to CEO to succeed Whall, which is what Kaplan viewed as the most likely outcome in the event of succession. She maintains an Overweight rating and $14 price target on ADT shares, which are down 2% to $9.00 in pre-market trading.