Melco Crown weakness a buying opportunity, says Wells Fargo Wells Fargo said it would buy shares of Melco Crown on any weakness from news of an illegal money transfer investigation in Taiwan. Wells thinks the Taiwanese government could be on a fact-finding mission, and that the news may not be Melco Crown or gaming specific. The firm keeps an Outperform rating on Melco Crown.
Deutsche cuts 2015 Macau growth forecast to down 21.4% Deutsche Bank lowered its 2015 Macau gross gaming revenue forecast to down 21.4% from down 8.4% saying the demand issues will not be solved by expanding capacity. The firm's confidence in a Macau turnaround remains "muted," but it continues to view shares of MGM Resorts (MGM) as "meaningfully undervalued." It views Buy-rated Wynn Resorts (WYNN) as better suited for longer term investors at this stage, and lowered its price target for the stock to $170 from $176. Deutsche also cut its price target for Hold-rated Las Vegas Sands (LVS) to $49 from $53.