Melco Resorts price target lowered to $8.90 from $10.70 at Goldman Sachs

Goldman Sachs lowered the firm’s price target on Melco Resorts (MLCO) to $8.90 from $10.70 and keeps a Buy rating on the shares. Two years after reopening, China’s travel demand has largely normalized with incremental upside from outbound and inbound travels in fiscal 2025, favoring online travel agencies as well as hotels and airlines, the analyst tells investors in a research note. The firm expects price stabilization from the end of Q1 to help re-rate the hotels and airlines stocks “from close-to-trough valuation multiples.”