Susquehanna lowered the firm’s price target on Melco Resorts (MLCO) to $9 from $10 and keeps a Positive rating on the shares. The firm continues to view Melco as an unexpiring call option on Macau’s eventual recovery. Despite the Chinese macro overhang from the impact of higher tariffs with the US, the firm sees investors as still hopeful for the recovery trade in Macau to still play out especially considering Chinese domestic stimulus, as well as additional infrastructure improvements that make it easier to get to Macau.
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Read More on MLCO:
- Macau reports January casino revenue down 5.6% to 18.25B patacas
- Melco Resorts price target lowered to $6.20 from $9.20 at BofA
- 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
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