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UPDATE: Morgan Stanley Raises Price Target On Boyd Gaming on Increased LV Market Estimates/Online-Confidence

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In a report published on Monday, Morgan Stanley analyst Thomas Allen raised the price target on Boyd Gaming (NYSE: BYD), from $15.00 to $16.00 and maintained an Overweight rating.

In the report, Morgan Stanley noted, "We raise our BYD PT to $16 and increase our '13/'14 ests slightly post-recent events 1) Station earnings / our cost analysis give us more confidence in LV Locals upside; 2) Our H2 meeting, the opening of NV online poker, and the release of NJ draft regs / IL proposal reinforce our US online optimism."

Boyd Gaming closed Friday at $12.90 and is currently trading up 0.70 percent since market open.

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