Morgan Stanley Downgrades Melco Resorts & Entertainment Limited (MLCO) to Equalweight

Morgan Stanley analyst Praveen Choudhary downgraded Melco Resorts & Entertainment Limited (NASDAQ: MLCO) from Overweight to Equalweight with a price target of $7.50 (from $9.60).

The analyst comments "tock preferences: We downgrade MLCO to EW from OW. We prefer Sands over Galaxy for more visible market share momentum, dividend resumption and LVS share buybacks. Among mid-caps, we prefer MGM and Wynn over MLCO for higher dividend yields and cheaper valuations."

For an analyst ratings summary and ratings history on Melco Resorts & Entertainment Limited click here. For more ratings news on Melco Resorts & Entertainment Limited click here.

Shares of Melco Resorts & Entertainment Limited closed at $6.45 yesterday.

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