Analysts at Bank of America cut Macau estimates and lowered price targets on multiple casino stocks.
Analysts lowered GGR growth to 0 percent in 2014 and 2015. Shaun Kelley stated, "In our view, visibility is low, and comps remain difficult for the next 5 months. Macau stocks move with gaming revenues, so a flattish market may impact the group in the short- term."
Analysts also cut price targets on casino companies:
- Wynn Resorts, Limited WYNN lowered price target to $210 from $260.
- Las Vegas Sands Corp. LVS lowered price target to $72 from $88.
- MGM Resorts International MGM lowered price target to $30 from $33.50.
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