Macau Lockdown Slashes Targets For Las Vegas Sands, MGM, Wynn — Try These 3 US Casino Stocks Instead
Gambling stocks traded sharply lower on Monday morning as Macau casinos shut down for a week. In response, one Wall Street analyst cut his price targets for U.S.-listed casino stocks with exposure to Macau. The Analyst: Bank of America analyst Shaun Kelley issued the following price target cuts on Monday: Las Vegas Sands Corp. (NYSE: LVS ), reiterated Underperform rating and lowered the price target from $38 to $36. Wynn Resorts, Limited (NASDAQ: WYNN ), reiterated Neutral rating and lowered the price target from $75 to $70. MGM Resorts International (NYSE: MGM ), reiterated Neutral rating and lowered the price target from $45 to $40. Related Link: Final Draft Of Macau Gaming Law: What Investors Need To Know The Thesis: Macau''s gross gaming revenue (GGR) dropped 26% month-over-month in June and remains down about 90% from pre-COVID-19 pandemic levels … Full story available on Benzinga.com
Macau Lockdown Slashes Targets For Las Vegas Sands, MGM, Wynn — Try These 3 US Casino Stocks Instead
Gambling stocks traded sharply lower on Monday morning as Macau casinos shut down for a week. In response, one Wall Street analyst cut his price targets for U.S.-listed casino stocks with exposure to Macau. The Analyst: Bank of America analyst Shaun Kelley issued the following price target cuts on Monday: Las Vegas Sands Corp. (NYSE: LVS ), reiterated Underperform rating and lowered the price target from $38 to $36. Wynn Resorts, Limited (NASDAQ: WYNN ), reiterated Neutral rating and lowered the price target from $75 to $70. MGM Resorts International (NYSE: MGM ), reiterated Neutral rating and lowered the price target from $45 to $40. Related Link: Final Draft Of Macau Gaming Law: What Investors Need To Know The Thesis: Macau''s gross gaming revenue (GGR) dropped 26% month-over-month in June and remains down about 90% from pre-COVID-19 pandemic levels … Full story available on Benzinga.com