Market Overview

Macau Negatives Priced In, Time To Accumulate Says Ken Fong

Share:
Related MGM
Deutsche Bank Doesn't Like MGM's Odds
Benzinga's Option Alert Recap From September 6
Related WYNN
Benzinga's Option Alert Recap From September 22
Najarian Brothers See Unusual Options Activity In AbbVie And Wynn Resorts
These 5 Top Hotel, Casino Stocks Are In Buy Range, But Watch Out For This (Investor's Business Daily)

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.

Fong upgrades MGM Resorts International (NYSE: MGM)'s Macau operations to Outperform from Neutral and upgrades Wynn Resorts, Limited (NASDAQ: WYNN)'s Macau to Outperform from Neutral.

Latest Ratings for MGM

DateFirmActionFromTo
Sep 2017Deutsche BankDowngradesBuyHold
Aug 2017UBSDowngradesBuyNeutral
Dec 2016Aegis CapitalInitiates Coverage OnBuy

View More Analyst Ratings for MGM
View the Latest Analyst Ratings

Posted-In: Analyst Color Upgrades Analyst Ratings

 

Related Articles (WYNN + MGM)

View Comments and Join the Discussion!
Loading...
Loading...