Caesars price target raised to $32 from $31 at Morgan Stanley

Morgan Stanley raised the firm’s price target on Caesars (CZR) to $32 from $31 and keeps an Equal Weight rating on the shares after Boyd (BYD) entered a definitive agreement to sell it’s 5% stake in FanDuel for $1.75B gross of taxes, the analyst tells investors in a research note. The firm believes the “mark” on the FanDuel assets will provide a temporary boost for U.S. gaming assets as the market may anticipate further transactions and/or ascribe similar multiples to peer assets.