UPDATE: Morgan Stanley Reiterates Overweight Rating, Removes PT on Boyd Gaming Corporation on Model Update

In a report published Wednesday, Morgan Stanley analyst Thomas Allen reiterated an Overweight rating on

, but removed the $13.00 price target. In the report, Morgan Stanley noted, “Following further diligence around the potential value of an OpCo / PropCo split (e.g. doing more work with our Accounting and Fixed Income teams), we have made minor adjustments to our model. Our analysis now suggests BYD would be worth $15/$20/$27 in our bear/base/bull REIT spin scenarios (vs. prior $16/$21/$26).” Boyd Gaming Corporation closed on Tuesday at $13.75.