Wall Street research firm Barclays lowered its price targets for three big casinos stocks, although it remains bullish on the industry and the involved companies. Let’s take a look at these stocks.
Las Vegas Sands
Although Barclays maintains an Overweightrating on Las Vegas Sands Corp. LVS, it cut its price target from $65 to $59. The current target implies a potential upside of almost 10 percent.
Also bullish on this stock is Union Gaming, which initiated coverage on Thursday, with a Buy rating and a $65 price target.
On the opposite sidewalk, Nomura downgraded the stock on Wednesday, from Buy to Neutral, setting a $54 price target that implies almost no upside potential from the current stock price.
MGM Resorts
MGM Resorts International MGM also saw Barclays lower its price target on Friday, from $27 to $24, while also reiterating an Overweight rating. Just like in the previous case, Union Gaming weighed in on Thursday, with a Buy and a $26 price target.
The stock currently trades below $20.
Wynn Resorts
The last rating issued on Friday was for Wynn Resorts, Limited WYNN. The research firm cut its price target for the stock from $190 to $158, while –yet again- maintaining an Overweight. However, the upside potential here is limited, given that the stock trades around $146.
Same as in Las Vegas Sands’ case, Union Gaming initiated coverage on Wynn with a Buy ($175), while Nomura downgraded the stock to Neutral ($149).
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