Morgan Stanley has started to cover the online poker industry, and they began with a very positive forecast for Party Gaming, which had lost over 3 billion pounds in market value following a revised assessment of the sustainable growth of online poker.
Morgan Stanley analysts are very upbeat about the future of online poker, and awarded Party Gaming with an overweight rating, valuing shares in the company at 130p, well above their current trading price of 117p. It has been a roller-coaster ride for the stock of late, but Party Gaming is sure to come off best in the dispute with Empire Online, and once the latter's baseless accustaions have been dismissed it should see the price of the former's stock rise accordingly.
