BofA lowered the firm’s price target on Melco Resorts (MLCO) to $6.20 from $9.20 and keeps a Neutral rating on the shares. The firm remains on the sidelines as it believes an inexpensive valuation is balanced by higher leverage, and a lack of dividend as well as positive catalysts near-term.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on MLCO:
- Macau reports December casino revenue down 2% to 18.2B patacas
- Bet On It: South Carolina advances legalized sports betting efforts
- Melco Resorts downgraded to Equal Weight from Overweight at Morgan Stanley
- Melco Resorts price target lowered to $8.90 from $10.70 at Goldman Sachs
- Melco International downgraded to Neutral from Buy at Goldman Sachs