Barclays Trims Target For Casinos Stocks But Remains Bullish

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).