Susquehanna analyst Joseph Stauff raised the firm’s price target on Melco Resorts (MLCO) to $10 from $8 and keeps a Positive rating on the shares. The firm raised its 2Q revenue/property EBITDA estimates due to the momentum in Macau starting in May and accelerated in June. While they remain constructive on its turnaround progress especially given Macau’s recent strength, they do recognize that expectations are high going into the 2Q print and the company’s recent market share gains and opex control are baked into consensus estimates.
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