Crown Resorts has switched off every second pokie and gaming machine in Melbourne, restricted the number of players at table games to five, and restricted conference facility attendees to 450. The broker estimates an earnings impact of -15%.

Equal-weight and $11.80 target retained. Industry view: Cautious.

Sector: Consumer Services.

Target price is $11.80.Current Price is $7.28. Difference: $4.52 - (brackets indicate current price is over target). If CWN meets the Morgan Stanley target it will return approximately 38% (excluding dividends, fees and charges - negative figures indicate an expected loss).

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