Melco Resorts and Entertainment shares are trading higher after Morgan Stanley upgraded the stock from Equal-Weight to Overweight and raised its price target from $8.30 to $9.60.
Portfolio Pulse from Benzinga Newsdesk
Melco Resorts and Entertainment's stock (MLCO) trades higher following an upgrade by Morgan Stanley from Equal-Weight to Overweight, with a new price target of $9.60, up from $8.30.
May 06, 2024 | 10:49 am
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POSITIVE IMPACT
Melco Resorts and Entertainment's stock received a positive rating upgrade from Morgan Stanley, moving from Equal-Weight to Overweight, alongside a price target increase to $9.60.
The upgrade by a major financial institution like Morgan Stanley typically signals a strong bullish outlook on the stock, suggesting confidence in the company's future performance. The increase in price target further emphasizes the expectation of stock price appreciation, likely leading to increased investor interest and potentially higher stock prices in the short term.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100