MGM China downgraded to Neutral from Buy at Seaport Research

Seaport Research analyst Vitaly Umansky downgraded MGM China (MCHVF) to Neutral from Buy. Q2 results for Macau should not have many surprises on what had turned into a better than expected quarter, the analyst tells investors in a research note. The firm added that investors are likely to be focused on the second half and to try to get comfort with the potential higher growth that Macau ahs experienced recently. Concerns around China macro and the U.S. gaming slowdown remain headwinds, the analyst says, adding that the stock has performed strongly in recent months and the firm now sees near fair value for MGM China.