BofA raised the firm’s price target on Melco Resorts (MLCO) to $9.20 from $6.60 and keeps a Neutral rating on the shares. Macau gaming sector GGR was stronger than expected in the May-June period, the analyst tells investors in a research note.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on MLCO:
- Balanced Outlook: Hold Rating for Melco Resorts Amid Growth and Financial Challenges
- MGM China upgraded to Buy from Neutral at Goldman Sachs
- Las Vegas Sands, Wynn up 6% in early trade following Macau gaming revenue data
- Video: Tesla, Sweetgreen slipping in early trading
- Melco Resorts upgraded to Overweight at JPMorgan as Macau recovers