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LVS

Las Vegas Sands

$57.54

0.61 (1.07%)

, MGM

MGM Resorts

$26.03

0.18 (0.70%)

18:33
10/02/16
10/02
18:33
10/02/16
18:33

Macau reports September casino revenue up 7.4% to 18.4B patacas

Macau's gaming bureau reported September gross revenue from games of fortune in the region rose 7.4% year over year to 18.396B patacas. Publicly traded companies in the space include Las Vegas Sands (LVS), MGM Resorts (MGM), Wynn Resorts (WYNN) and Melco Crown (MELP).

LVS

Las Vegas Sands

$57.54

0.61 (1.07%)

MGM

MGM Resorts

$26.03

0.18 (0.70%)

WYNN

Wynn Resorts

$97.42

-3.17 (-3.15%)

MPEL

Melco Crown

$16.11

0.09 (0.56%)

LVS Las Vegas Sands
$57.54

0.61 (1.07%)

09/14/16
ARGS
09/14/16
UPGRADE
ARGS
Buy
Las Vegas Sands upgraded to Buy from Hold at Argus
09/14/16
ARGS
09/14/16
UPGRADE
ARGS
Buy
Las Vegas Sands upgraded on Macau outlook at Argus
As noted earlier, Argus upgraded Las Vegas Sands to Buy from Hold. Analyst John Staszak notes that Macau gross gaming revenue increased year-over-year last month for the first time in over two years. He says that Macau gambling is shifting towards the non-VIP market, where he believes that Las Vegas Sands is well-positioned. Target $67.
09/14/16
09/14/16
UPGRADE

On The Fly: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Macy's (M) upgraded to Buy from Neutral at Citi with analyst Paul Lejuez saying an attractive free cash flow and dividend yield makes the risk/reward attractive at current levels. 2. Fifth Third (FITB) upgraded to Buy from Neutral at Compass Point. 3. F5 Networks (FFIV) upgraded to Outperform from Perform at Oppenheimer with analyst Ittai Kidron saying the company has several potential drivers that could drive year-over-year product revenue growth back into positive territory in fiscal 2017. 4. Las Vegas Sands (LVS) upgraded to Buy from Hold at Argus with analyst John Staszak saying that Macau gambling is shifting towards the non-VIP market, where he believes that Las Vegas Sands is well-positioned. 5. DeVry (DV) upgraded to Outperform from Market Perform at Barrington with analyst Alexander Paris saying management's near-term goal is stabilizing revenue at DeVry University growing enrollment. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
07/05/16
BERN
07/05/16
NO CHANGE
BERN
Macau casinos could benefit from Philippines ban, says Bernstein
After the president of the Philippines called for a ban of online gambling, Bernstein says that Macau casinos could benefit from such a ban. The firm notes that online Filipino gambling sites have targeted Chinese gamblers. Bernstein adds that "there have been concerns" that bad debt from VIP junket operators could undermine Macau casinos' balance sheet. However, Bernstein says that it sees no evidence of such a trend, and it remains upbeat o nthe casinos' long-term outlook.Publicly traded Macau casinos include Las Vegas Sands (LVS), Melco Crown (MPEL),MGM Resorts (MGM), and Wynn Resorts (WYNN).
MGM MGM Resorts
$26.03

0.18 (0.70%)

09/16/16
GABE
09/16/16
NO CHANGE
Target $39
GABE
Buy
MGM Resorts fundamentals solid, shares undervalued at Gabelli
Gabelli analyst Adam Trivison reiterated MGM Resorts as a best idea following recent management meetings. The analyst has confidence in MGM's outlook and estimates driven by a strong Las Vegas convention business, new property openings, management's $400M Profit Growth Plan. Trivison views MGM shares as undervalued and said the core business is trading at a 7x his 2017 EBITDA estimate. The analyst rates MGM Resorts a Buy with a $39 price target on shares.
06/20/16
SUSQ
06/20/16
NO CHANGE
Target $31
SUSQ
Positive
MGM Resorts price target raised to $31 from $27 at Susquehanna
Susquehanna raised its price target on MGM Resorts to $31 from $27 citing the compelling risk/reward and the belief it has a clear growth trajectory. The firm cited the company's broad diversification, its focus on continuous operational improvement, five development projects, and reduced leverage. Susquehanna reiterated its Positive rating on MGM Resorts shares.
09/28/16
DBAB
09/28/16
NO CHANGE
Target $29
DBAB
Buy
MGM Resorts near-term setup is attractive, says Deutsche Bank
After meeting with management, Deutsche Bank analyst Carlo Santarelli says MGM Resorts' valuation is compelling and the near-term setup is attractive. The company continues to execute on its growth strategies amid solid underlying demand in Las Vegas, Santarelli tells investors in a research note. He keeps a Buy rating on MGM with a $29 price target.
WYNN Wynn Resorts
$97.42

-3.17 (-3.15%)

07/29/16
LYON
07/29/16
DOWNGRADE
LYON
Underperform
CLSA cuts Wynn Resorts to Underperform, says cannibalization risk underestimated
As previously reported, CLSA analyst Jon Oh downgraded Wynn Resorts to Underperform from Outperform. Along with its Q2 call, the company revealed that it expects to receive only 100 new tables for the Wynn Palace opening and expects to move a greater-than-expected 250 tables from Wynn Macau to Wynn Palace. While Oh does not think Wynn Palace's economics change in this scenario, he remains concerned that the market is underestimating the risk of self-cannibalization and a slower Macau EBITDA uplift. Oh keeps a $97 price target on the stock but believes the risk/reward ratio has become unfavorable following the stock's year-to-date rally of over 50%.
07/29/16
07/29/16
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. GrubHub (GRUB) downgraded to Neutral from Buy at BofA/Merrill, to Neutral from Buy at Monness Crespi, and to Hold from Buy at Maxim. 2. Ford (F) downgraded to Neutral from Buy at Goldman with analyst Patrick Archambault saying share outperformance over the next 6-12 months will be difficult following the carmaker's weaker than expected second quarter results and profit warning for 2016. 3. Starz (STRZA) downgraded to Hold from Buy at Pivotal Research with analyst Jeffrey Wlodarczak saying the Starz/Lionsgate (LGF) pro-forma entity is fairly valued. 4. Western Digital (WDC) downgraded to Hold from Buy at Cross Research with the firm saying the company is either unwilling or unable to provide a reasonable level of precision to the newly combined businesses with SanDisk and the higher than expected cost structure, combined with compensation increases will be a drag. 5. Wynn Resorts (WYNN) downgraded to Reduce from Neutral at Nomura and to Underperform from Outperform at CLSA. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
08/12/16
UGAM
08/12/16
DOWNGRADE
UGAM
Hold
Wynn Resorts downgraded to Hold from Buy at Union Gaming
08/12/16
08/12/16
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Macy's (M) downgraded to Neutral from Outperform at Macquarie with analyst Laurent Vasilescu saying the closure of 100 stores will have a greater impact than the $1B in 2017 sales projected by the company, and could be as much as $1.5B-$2B. 2. Wynn Resorts (WYNN) downgraded to Hold from Buy at Union Gaming. 3. Foot Locker (FL) downgraded to Mixed from Positive at OTR Global with the firm citing store manager checks that indicate product mix is pressuring sale growth. 4. Qualcomm (QCOM) downgraded to Neutral from Positive at Arete. 5. Barracuda (CUDA) downgraded to Underperform from Neutral at DA Davidson with analyst Mark Kelleher citing valuation. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
MPEL Melco Crown
$16.11

0.09 (0.56%)

09/08/16
MACQ
09/08/16
INITIATION
Target $18.8
MACQ
Outperform
Melco Crown initiated with an Outperform at Macquarie
Macquarie analyst Zibo Chen initiated Melco Crown with an Outperform and $18.80 price target. The analyst is optimistic that Studio City will gradually ramp up by 4Q 2017 thanks to the company's non-gaming franchise; and increased traffic generated by nearby new projects such as the Parisian.
07/19/16
HSBC
07/19/16
UPGRADE
HSBC
Buy
Melco Crown upgraded to Buy from Hold at HSBC
HSBC analysts led by Charlene Liu upgraded Melco Crown to Buy and said suboptimal performance of Studio City is in the price and its gradual ramp-up could lead to higher valuation over time. Liu lowered Melco Crown's price target to $15.50 from $16.60.
09/09/16
DBAB
09/09/16
UPGRADE
Target $17
DBAB
Buy
Melco Crown upgraded to Buy from Hold at Deutsche Bank
Deutsche Bank analyst Karen Tang upgraded Melco Crown to Buy saying recent interviews with casino staff members indicate that Macau is at the start of a "mass-led GGR recovery." Both base mass and premium mass are growing again, Tang tells investors in a research note. The analyst raised her price target for the shares to $17 from $14.

TODAY'S FREE FLY STORIES

08:40
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General news
U.S. durable goods orders rebounded 1.8% in January »

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ERIC

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, QCOM

Qualcomm

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CSCO

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SNCR

Synchronoss

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REGN

Regeneron

$361.01

0.05 (0.01%)

, SNY

Sanofi

$42.70

0.19 (0.45%)

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SNY

Sanofi

$42.70

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LAUR

Laureate Education

$13.24

0.06 (0.46%)

08:38
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Initiation
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INVH

Invitation Homes

$21.60

0.02 (0.09%)

08:37
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FNB

F.N.B.

$15.65

-0.02 (-0.13%)

, YDKN

Yadkin Financial

$33.42

-0.14 (-0.42%)

08:37
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Hot Stocks
F.N.B. receives final regulatory approvals for proposed merger of Yadkin Financial »

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FNB

F.N.B.

$15.65

-0.02 (-0.13%)

YDKN

Yadkin Financial

$33.42

-0.14 (-0.42%)

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ENB

Enbridge

$41.34

-0.37 (-0.89%)

, SE

Spectra Energy

$40.68

-0.32 (-0.78%)

08:36
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Hot Stocks
Enbridge, Spectra Energy complete merger »

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ENB

Enbridge

$41.34

-0.37 (-0.89%)

SE

Spectra Energy

$40.68

-0.32 (-0.78%)

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OTIV

On Track Innovations

$1.99

-0.08 (-3.86%)

08:35
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08:35
Hot Stocks
On Track Innovations announces appointment of VP of Sales »

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XLK

Technology Select Sector SPDR

$52.63

0.12 (0.23%)

08:35
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Technical Analysis
Technology Select Sector SPDR: Pivot points »

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EV

Eaton Vance

$46.96

-0.24 (-0.51%)

08:35
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Eaton Vance expands presence in Japan »

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SSRI

Silver Standard

$11.53

0.63 (5.78%)

08:35
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Recommendations
Silver Standard analyst commentary  »

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WFC

Wells Fargo

$57.81

-0.68 (-1.16%)

08:35
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Buffett says Wells Fargo made 'huge mistake' »

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XLE

Energy Select Sector SPDR

$70.99

-0.67 (-0.93%)

08:35
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Technical Analysis
Energy Select Sector SPDR: Pivot points »

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General news
N.Y. FX Outlook »

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XLY

Consumer Discretionary Sector SPDR

$86.92

0.4 (0.46%)

08:34
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ENFC

Entegra Financial

$23.15

0.05 (0.22%)

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XLB

S&P Select Materials SPDR

$52.43

0.11 (0.21%)

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XLU

Utilities SPDR

$51.59

0.77 (1.52%)

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Utilities SPDR: Pivot points »

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AMPE

Ampio

$0.80

-0.0312 (-3.75%)

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Ampio: OTAT provides guidance for path to approval of Ampion »

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CLSN

Celsion

$0.21

-0.0229 (-9.83%)

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Celsion sees OVATION study to be fully enrolled, data to come in Q2 »

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XLP

Consumer Staples Sector SPDR

$55.28

0.19 (0.34%)

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Technical Analysis
Consumer Staples Sector SPDR: Pivot points »

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XLV

Health Care Select Sector SPDR

$74.78

0.36 (0.48%)

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Technical Analysis
Health Care Select Sector SPDR: Pivot points »

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SNCR

Synchronoss

$30.49

-0.37 (-1.20%)

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Synchronoss names John Frederick as CFO, effective immediately »

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IWM

iShares Trust Russell 2000 Index Fund

$138.65

-0.1 (-0.07%)

08:32
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Technical Analysis
iShares Trust Russell 2000 Index Fund: Pivot points »

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DIA

Diamonds Fund ETF

$207.93

0.11 (0.05%)

08:32
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Technical Analysis
Diamonds Fund ETF: Pivot points »

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