** U.S.-listed shares of casino operator Melco Resorts & Entertainment MLCO.O rise 8.5% to $6.03 premarket
** Morgan Stanley upgrades rating to "overweight" from "equalweight", TheFly reports
** However, brokerage cuts PT to $6.70 from $7.50, still representing a 20.5% upside to stock's last close
** TheFly reports brokerage highlighted Melco's increased market share in mass gaming revenue $(GGR)$ in Q4 2024 and Q1 2025
** Brokerage sees this upward trend continuing into Q2 2025, with the reopening of "House of Dancing Water" show in May 2025
** "This entertainment offering, which initially launched in September 2010, had previously contributed to a significant rise in market share for Melco in 2011 and 2012, and similar positive effects are expected with its return," Investing.com reports
** Nine brokerages rate MLCO "buy" and four "hold"; their median PT is $7.60 - LSEG compiled data
** As of last close, stock had fallen ~4% YTD
(Reporting by Aatreyee Dasgupta)
((Aatreyee.Dasgupta@thomsonreuters.com))
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