Analyst Cuts 2012 Gaming Sales Growth Forecast for Macau, Reduces Targets on LVS, MGM, WYNN

Article Stock Quotes (3) Comments (0)

Credit Agricole's John Oh reduced his 2012 gaming sales growth estimate for Macau from 21 percent previously to 16 percent Tuesday morning, and consequently reduced price targets on the major Casino & Gaming players.

• Las Vegas Sands (NYSE: LVS) from $72 to $68
  
• MGM (NYSE: MGM) from $17 to $16
  
• Wynn (Nasdaq: WYNN) from $150 to $135

Oh rates each of the above stocks a Buy.

While the analyst said he expects sales to be up in the mid-to-high-teen digit range in June, he expects growth in July and August to be "choppy."

Shares of Las Vegas Sands are up 0.4 percent to $45.17 at last check, shares of MGM are up 0.2 percent to $11.06, and Wynn shares are up 1.1 percent to $100.67.

---

Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW

---

*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here

---

---

You May Also Be Interested In

• UPDATE: Citi Raises PT on Micron Technology (MU) to $19
• Terex (TEX) Suffers from Weakness in Europe; Read-Through For Manitowoc (MTW)
• BWS Financial Bumps Price Target on Rambus (RMBS), Keeps 'Hold' Rating

Create E-mail Alert Related Categories

Analyst Comments, Analyst PT Change

Related Entities

Credit Agricole

Add Your Comment

Name

Subject

Body

Share on Facebook

Verification
can't see the text?
click here to refresh the image.
what's this?