Citi analyst George Choi downgraded Wynn Macau (WYNMF) to Neutral from Buy with a price target of HK$5.55, down from HK$8.30. Macau produced lower than anticipated gross gaming revenue in January, and the implementation of U.S. tariffs against China on February 1 has “dampened” gaming demand towards the end of the Chinee New Year Golden Week, the analyst tells investors in a research note. Citi expects this impact to continue throughout most of the first half of 2025. As such, Citi downgraded three Macau gaming names.
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