Bank Of America Cuts Estimates, Price Targets On Casino Stocks

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.