Macau Negatives Priced In, Time To Accumulate Says Ken Fong
Credit Suisse's Ken Fong sees the worst of Macau problems for Casino's behind them now. Fong highlights the sector is under-owned and seasonally stronger months are ahead.
"With the central and Macau governments essentially putting a "policy floor" on the industry revenue, we believe that the worst is over for both GGR and share prices." Fong wrote. This policy is helping to support the limits to the downside and this has generated an attractive risk-reward to the upside for shares.
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|Oct 2016||Argus Research||Upgrades||Hold||Buy|
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