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Stock Market & Financial Investment News

News Breaks
June 12, 2014
06:30 EDTMPELMelco Crown shares cheapest among Macau names, says Citigroup
Citigroup says shares of Melco Crown are the cheapest in the Macau gaming space trading at 25% discount to the sector. Citi lowered its 2014 Macau GGR growth forecast to 13% from 22%, but only drops its 2014-2016 earnings estimates for Melco Crown by 1%-4%. The firm calls Melco its top pick in Macau and keeps a Buy rating on the name with a $55 price target.
News For MPEL From The Last 14 Days
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March 3, 2015
06:43 EDTMPELMacau reports February casino revenue down 48.6% to 19.54B patacas
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February 26, 2015
08:29 EDTMPELDeutsche 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.
February 25, 2015
10:01 EDTMPELOn The Fly: Analyst Downgrade Summary
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07:30 EDTMPELMelco Crown downgraded to Neutral from Outperform at Credit Suisse
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February 24, 2015
09:52 EDTMPELMacau to review mainland’s individual visit scheme, Macau Business Daily says
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