Red Rock Resorts price target raised to $47 from $43 at Morgan Stanley

Morgan Stanley raised the firm’s price target on Red Rock Resorts (RRR) to $47 from $43 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.