Citadel Raises MGM (MGM), Wynn (WYNN) to Add After Promising G2E Asia Gaming Conference in Macau
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Price: $43.74 +1.32%
Rating Summary:
23 Buy, 15 Hold, 4 Sell
Rating Trend:
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Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
23 Buy, 15 Hold, 4 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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A group of Citadel analysts revised investment ratings on a number of Casino & Gaming stocks late Monday afternoon following last week's G2E Asia Gaming Conference in Macau and a recent sell-off in Asian gaming stocks.
After attending the Conference and then spending seven days/nights visiting different properties in Macau, the analysts said they "came away with a sense that there will be no meaningful near-term competitive threats to the Macau and Singapore markets..."
Citadel boosted its investment ratings on MGM (NYSE: MGM), Wynn Resorts (Nasdaq: WYNN) and Wynn Macau from Neutral to Add. The firm also reiterated an Add on shares of Las Vegas Sands (NYSE: LVS) and its top pick Sands China at Edge Positive.
The firm maintains a $16 price target on MGM, a $150 target on Wynn and a $50 target on shares of Las Vegas Sands.
Check out our Ratings Insider portal to get the most comprehensive and up-to-date analyst coverage on the Street.
After attending the Conference and then spending seven days/nights visiting different properties in Macau, the analysts said they "came away with a sense that there will be no meaningful near-term competitive threats to the Macau and Singapore markets..."
Citadel boosted its investment ratings on MGM (NYSE: MGM), Wynn Resorts (Nasdaq: WYNN) and Wynn Macau from Neutral to Add. The firm also reiterated an Add on shares of Las Vegas Sands (NYSE: LVS) and its top pick Sands China at Edge Positive.
The firm maintains a $16 price target on MGM, a $150 target on Wynn and a $50 target on shares of Las Vegas Sands.
Check out our Ratings Insider portal to get the most comprehensive and up-to-date analyst coverage on the Street.
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