Analyst Karl Choi of Bank of America Securities reiterated a Hold rating on Melco Resorts & Entertainment, reducing the price target to $9.00.
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Karl Choi has given his Hold rating due to a combination of factors affecting Melco Resorts & Entertainment. The company’s stock price has recently declined, influenced by weaker-than-expected gross gaming revenue in October, ongoing global trade tensions, and increased promotional spending by competitors, which could pressure Melco’s margins. Despite these challenges, Melco’s valuation appears…
