Cautious Hold Rating on Melco Resorts Amid Declining Stock Price and Competitive Pressures
Analyst Karl Choi of Bank of America Securities reiterated a Hold rating on Melco Resorts & Entertainment, reducing the price target to $9.00.
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.
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…
