UPDATE: Morgan Stanley Raising Price Target On Wynn Following Earnings

Morgan Stanley is out with a research report on Wynn Resorts WYNN following the company's earnings report yesterday. It is raising its price target to $165 from $152, but is keeping its Equal-Weight rating on shares. In a note to clients, Morgan Stanley writes, "Once again, we are increasing our PT following a strong earnings report, though our E/W rating remains unchanged. Our PT goes to $165 from $152. Macau results were strong, consistent with recent investor expectations, growing in-line with the overall market. Improving leisure and non-gaming trends drove upside in LV, which should have a positive read-through to MGM." Shares of WYNN are up $4.68 in pre-market trading to $169.57, a gain of 2.84%.