Deutsche Bank Downgrades Las Vegas Sands (LVS) to Hold
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Macau Golden Week Gaming Revenue Growth Declines 20-23%, Sales Wells Fargo (LVS) (MGM) (WYNN) (MPEL)
October 7, 2014 9:18 AM EDTMacau gaming revenue growth declined 20%-23% year-over-year through October 5, said Wells Fargo analyst Cameron McKnight, citing checks. Golden Week ADR was down 33% year-over-year despite strength in visitation as a result of negative high-roller trends.
In the U.S. traders are watching Las Vegas Sands (NYSE:... More
Deutsche Bank Upgrades MGM Resorts (MGM) to Buy
October 7, 2014 6:41 AM EDTDeutsche Bank upgraded MGM Resorts (NYSE: MGM) from Hold to Buy with a price target of $30.00 (from $22.00). Analyst Carlo Santarelli thinks a recent pullback creates an attractive entry.
"In short, we think the risk-return here, post the 16% correction since June 30 (S&P flat) stemming from Macau fears, is compelling despite the concerns over Macau growth in the near to medium term. In our view, and based on our below Consensus MGM Macau forecasts, we think... More
