Melco Resorts price target raised to $6.25 from $6 at Citi

Citi raised the firm’s price target on Melco Resorts (MLCO) to $6.25 from $6 and keeps a Neutral rating on the shares. The firm likes the company’s decision to seek alternatives for City of Dreams Manila and “go asset light,” notes the analyst, who believes a potential transaction can accelerate the company’s deleveraging progress and allow management to focus on “its home turf in Macau.”