Market Overview

Macau Negatives Priced In, Time To Accumulate Says Ken Fong

Share:
Related MGM
Attention Macau Investors: There's No Need To Panic Over Government Policies
PreMarket Prep Recap For May 18: Brazil Stocks Tank, Retail Earnings Continue
Related WYNN
Macau Tops Expectations With 16.3% April Revenue Growth
Las Vegas Strip Revenue Up 7.8% In March
Stocks Advance; Fiber Optics, China And Defense Dominate, But Tesla Falls (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
Dec 2016Aegis CapitalInitiates Coverage OnBuy
Dec 2016Aegis CapitalInitiates Coverage OnBuy
Dec 2016Goldman SachsInitiates 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!