Morgan Stanley upgraded Melco Resorts (MLCO) to Overweight from Equal Weight with a price target of $6.70, down from $7.50. The company has shown market share gains in Q4 and Q1, which could continue with HODW opening in May, the analyst tells investors in a research note. The firm thinks consensus revisions may have bottomed for Melco while the stock’s valuation is “undemanding.” It sees multiple catalysts for the shares in 2025.
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