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Further Weakness as Melco Resorts & Entertainment (NASDAQ:MLCO) Drops 4.5% This Week, Taking Five-year Losses to 73%
Express News | Melco Resorts & Entertainment Shares Are Trading Lower After JP Morgan Downgraded the Stock From Overweight to Neutral and Lowered Its Price Target From $10 to $7
Melco Resorts Cut to Neutral From Overweight by JP Morgan
J.P. Morgan Downgrades Melco Resorts and Entertainment(MLCO.US) to Hold Rating, Cuts Target Price to $7
Express News | Melco Resorts & Entertainment Ltd : JP Morgan Cuts to Neutral From Overweight
Morgan Stanley: Gambling revenue in the second week of July in Macau improved by 15% weekly, with MGM China as the first choice.
According to a research report released by Morgan Stanley, the preference order for Macau casino stocks remains unchanged, with MGM China (02282), Wynn Macau (01128), Sands China (01928), Galaxy Entertainment (00027), SJM Holdings (00880), and Melco Resorts and Entertainment (MLCO.US). The bank pointed out that the casino revenue for the first 14 days of July in Macau was 8.3 billion Macau Patacas (MOP) or 0.593 billion MOP per day. The average daily casino revenue in the second week increased by 15% to 0.635 billion MOP per day due to the gradually increasing summer holiday demand. The bank also mentioned that the European Cup had an impact on Macau in a week of Hong Kong time.