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Fly News Breaks for February 26, 2015
MPEL, LVS, WYNN, MGM
Feb 26, 2015 | 08:29 EDT
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.
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