Caesars price target raised to $31 from $29 at Morgan Stanley

Morgan Stanley analyst Stephen Grambling raised the firm’s price target on Caesars (CZR) to $31 from $29 and keeps an Equal Weight rating on the shares. The firm raised estimates “modestly across the board” for its Gaming & Lodging coverage to reflect better Q1 results and roughly in-line guidance expectations and mark-to-market adjustments for higher multiples. Discounted valuations among the group suggest the market “still remains pessimistic near-term,” adds the analyst.