Melco Resorts price target raised to $10.90 from $9.20 at BofA

BofA analyst Karl Choi raised the firm’s price target on Melco Resorts (MLCO) to $10.90 from $9.20 and keeps a Neutral rating on the shares. The firm raised its 2025 Macau sector gross gaming revenue growth view to 7.5% from 5% given “still-solid” GGR growth trends in the past two months and raised Melco’s GGR estimate by 2%, but trims its market share projection in 2025. The firm expects Melco’s market share to normalize to 15.5% in FY25, implying second half market share at 15.2%, the analyst noted.