Wynn Resorts price target raised to $101 from $95 at Morgan Stanley

Morgan Stanley raised the firm’s price target on Wynn Resorts (WYNN) to $101 from $95 and keeps an Overweight 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.