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MGM

MGM Resorts

$27.80

0.3 (1.09%)

, CZR

Caesars

$9.46

-0.01 (-0.11%)

09:33
04/25/19
04/25
09:33
04/25/19
09:33

Nevada reports March statewide gaming win down 0.12% to $1.02B

Reports March Las Vegas Strip gaming win down 3.83% to $551.94M. Publicly traded companies in the casino space include Boyd Gaming (BYD), Caesars (CZR), Las Vegas Sands (LVS), MGM Resorts (MGM), Penn National (PENN) and Wynn Resorts (WYNN).

MGM

MGM Resorts

$27.80

0.3 (1.09%)

CZR

Caesars

$9.46

-0.01 (-0.11%)

BYD

Boyd Gaming

$30.94

0.395 (1.29%)

PENN

Penn National

$22.11

0.08 (0.36%)

LVS

Las Vegas Sands

$67.02

-0.03 (-0.04%)

WYNN

Wynn Resorts

$144.35

1.35 (0.94%)

  • 25

    Apr

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    May

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    May

MGM MGM Resorts
$27.80

0.3 (1.09%)

03/20/19
FBCO
03/20/19
INITIATION
Target $30
FBCO
Neutral
MGM Resorts assumed with a Neutral at Credit Suisse
Credit Suisse analyst Ben Combes assumed coverage of MGM Resorts with a Neutral rating and $30 price target.
03/06/19
MSCO
03/06/19
NO CHANGE
MSCO
Morgan Stanley raises Macau casino operator targets on higher mass forecast
Morgan Stanley analyst Thomas Allen said that Morgan Stanley is increasingly bullish that China's policy stimulus is working as a firm, adding that he now expects Macau gross gaming revenue to grow 1% in 2019, up from his prior forecast for a 2% decline. Underpinning that improved view, he has raised his mass market growth forecast to 7% from 2%, citing accelerated visitation growth following the HKZM bridge opening as well as the firm's currency strategists' call for the CNY to continue to appreciate against the USD. While he still has an "in-line" view on Macau, Allen raised his price target on Las Vegas Sands (LVS) to $66 from $64, his target on Wynn (WYNN) to $130 from $122 and his target on MGM Resorts (MGM) to $35 from $34. Allen added that Las Vegas Sands remains his preferred play on Macau, as he thinks the Street is wrong in assuming it will lose market share.
01/18/19
MSCO
01/18/19
NO CHANGE
MSCO
Overweight
Morgan Stanley prefers Las Vegas to Macau in gaming entering 2019
Morgan Stanley analyst Thomas Allen said he is confident that the Las Vegas outlook is better than perceived after Q4 appears to have shown a meaningful rebound, noting also that his convention tracker supports strong 2019 demand growth and that flight capacity to the market is growing. Meanwhile, as a firm, Morgan Stanley has cut its Macau market gaming revenue outlook and industry view, Allen noted. Combining his Las Vegas outlook and bullish stance on regional U.S. gaming, Allen called MGM Resorts (MGM) and Caesars (CZR) his preferred large cap gaming stocks entering 2019, stating that he believes expectations for both are beatable. He reiterates Overweight ratings on both, as well as on Las Vegas Sands (LVS), and keeps an Equal Weight rating on Wynn Resorts (WYNN).
01/08/19
JPMS
01/08/19
NO CHANGE
Target $38
JPMS
Overweight
MGM Resorts added to Analyst Focus List at JPMorgan
JPMorgan analyst Joseph Greff added MGM Resorts to his firm's Analyst Focus List saying he sees an increasingly favorable setup for 2019. The analyst raised his price target for the shares to $38 from $35 and keeps an Overweight rating on the name. He sees a combination of relatively low expectations in Las Vegas, improving operations/efficiencies and an attractive valuation.
CZR Caesars
$9.46

-0.01 (-0.11%)

03/20/19
JPMS
03/20/19
NO CHANGE
Target $60
JPMS
Overweight
Eldorado shares could be worth $72-$80 with Caesars deal, says JPMorgan
JPMorgan analyst Daniel Politzer estimates that an Eldorado Resorts (ERI) acquisition of Caesars Entertainment (CZR) could generate $300M in synergies, imply a valuation of $72-$80 per share, and be ~50% accretive on a free cash flow per share basis. Reuters reported over the weekend that the two companies are in merger talks. The analyst's scenario contemplates Eldorado acquiring Caesars for $10.50 per share, or a 23% premium to last night's close, with the offer consisting of $6.25 in cash and $4.25 worth of stock. Politzer keeps an Overweight rating on Eldorado Resorts with a $60 price target.
01/16/19
BOFA
01/16/19
DOWNGRADE
Target $9
BOFA
Neutral
Caesars downgraded to Neutral following rally at BofA/Merrill
BofA/Merrill analyst Shaun Kelley downgraded Caesars to Neutral from Buy and lowered its price target to $9. Kelley is using the rally year-to-date in shares to downgrade saying he is more cautious longer-term towards Las Vegas pricing power and growth.
03/20/19
FBCO
03/20/19
INITIATION
Target $13
FBCO
Outperform
Caesars assumed with an Outperform at Credit Suisse
Credit Suisse analyst Ben Combes assumed coverage of Caesars with an Outperform rating and $13 price target.
BYD Boyd Gaming
$30.94

0.395 (1.29%)

01/11/19
STFL
01/11/19
UPGRADE
Target $33
STFL
Buy
Boyd Gaming upgraded to Buy from Hold at Stifel
Stifel analyst Steven Wieczynski upgraded Boyd Gaming to Buy while lowering his price target for the shares to $33 from $37. The analyst views the recent multiple contraction across the Gaming & Leisure operators group as "misguided." After stress testing his model for Boyd Gaming and taking a more conservative approach to out year estimates, the analyst says he's still able to "identify a compelling enough upside case to support an upgrade." Wieczynski sees an "outsized opportunity" for cost-driven margin improvement across the Boyd portfolio. Successful execution of the company's "multi-faceted capital allocation" should accelerate the re-rating in the shares' trading multiple, says the analyst.
12/20/18
12/20/18
UPGRADE
Target $31

Overweight
Morgan Stanley more bullish on regional gaming, ups Boyd Gaming to Overweight
As previously reported, Morgan Stanley analyst Thomas Allen upgraded Boyd Gaming to Overweight from Equal Weight, noting that despite a healthy fundamental backdrop for consumers the stock is trading below its long-term average multiple. Given that his firm's economists expect a healthy consumer backdrop in 2019, along with a record level of tax refunds, he has become more bullish on U.S. regional Gaming, Allen tells investors. He believes the market has overreacted to leverage concerns and he sees upside to 2019 EBITDA estimates for Boyd, he added. However, Allen lowered his price target on Boyd shares to $31 from $35.
12/20/18
MSCO
12/20/18
UPGRADE
MSCO
Overweight
Boyd Gaming upgraded to Overweight from Equal Weight at Morgan Stanley
11/16/18
JEFF
11/16/18
NO CHANGE
JEFF
Jefferies sees long-term investment opportunities in Gaming
The "profound weakness" in Gaming stocks has created dislocation which presents long-term investment opportunities, Jefferies analyst David Katz tells investors in a research note titled "'Buy On Weakness' Is Not Enough." The analyst says his "broad view" of asset value, leadership execution and capital structure risk lead to him focus on his top picks, Eldorado Resorts (ERI) and International Game Technology (IGT). He also has Buy ratings on Boyd Gaming (BYD), PlayAGS (AGS) and Everi Holdings (EVRI).
PENN Penn National
$22.11

0.08 (0.36%)

04/23/19
JPMS
04/23/19
NO CHANGE
Target $38
JPMS
Overweight
Penn National attractive into next week's earnings, says JPMorgan
JPMorgan analyst Joseph Greff views shares of Penn National as attractive heading into next week's earnings on May 2. Investor expectations appear to be for a "sizable" EBITDA miss on "well-known/well-appreciated" weather issues throughout the quarter, Greff tells investors in a research note. The analyst, however, does not believe the quarter "is going to be a disaster." Rather, he thinks margin upside can possibly offset weather-related revenue impact and EBITDA can come "pretty close" to company guidance. The analyst keeps an Overweight rating on Penn National with a $38 price target.
04/12/19
STFL
04/12/19
NO CHANGE
Target $32
STFL
Buy
Bad weather priced in after Penn National pullback, says Stifel
Stifel analyst Steven Wieczynski said he believes investors' concerns around the impact of weather on Penn National have been priced into the shares following the stock's 19% drop since early February. The analyst, who thinks Penn's Q1 results will "fare much better than what's currently priced into the stock," views the stocks as "extremely attractive" ahead of the quarterly report. Though he cut his Q1 EBITDA estimate to be 3% below consensus and lowered his FY19 EBITDA forecast to 1% below consensus, Wieczynski believes management's cost containment will lead to revised 2019 EBITDA guidance that's better than expectations. He trimmed his price target on Penn National to $32 from $36 and keeps a Buy rating on the stock.
01/17/19
NOMU
01/17/19
UPGRADE
Target $30
NOMU
Buy
Penn National upgraded to Buy from Neutral at Nomura Instinet
Nomura Instinet analyst Harry Curtis upgraded Penn National Gaming to Buy with a $30 price target. With the stock down 26% over the last 12 months, the analyst sees "key catalysts" in the form of positive estimate revisions, free cash generation of approximately $3.10 per share this year and $4.50 next, as well as both leverage reduction and share repurchases.
01/17/19
01/17/19
UPGRADE

Fly Intel: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Amicus (FOLD) upgraded to Buy from Neutral at Citi with analyst Mohit Bansal saying in recent months, the expectations on accelerated approval for AT-GAA have come down. 2. CBS (CBS) upgraded to Buy from Neutral at MoffettNathanson. 3. SeaWorld (SEAS) and Six Flags (SIX) upgraded to Outperform from Market Perform at Wells Fargo. 4. Dermira (DERM) upgraded to Market Perform from Underperform at Raymond James. 5. Penn National (PENN) upgraded to Buy from Neutral at Nomura Instinet with analyst Harry Curtis saying he sees "key catalysts" in the form of positive estimate revisions, free cash generation of approximately $3.10 per share this year and $4.50 next, as well as both leverage reduction and share repurchases. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
LVS Las Vegas Sands
$67.02

-0.03 (-0.04%)

04/18/19
STFL
04/18/19
NO CHANGE
Target $80
STFL
Buy
Las Vegas Sands price target raised to $80 from $72 at Stifel
Stifel analyst Steven Wieczynski raised his price target on Las Vegas Sands to $80 from $72, stating that the company "delivered another solid quarter" with "exceptional mass market gaming performance" in Macau and Singapore. However, while he expects shares to trade "modestly higher" following earnings, he does not see anything within the results or management's commentary capable of triggering a fundamental shift in the currently "decidedly mixed" sentiment on the stock. Wieczynski, who encourages investors to "look beyond the short-term noise," keeps a Buy rating on Las Vegas Sands shares.
04/18/19
DBAB
04/18/19
NO CHANGE
Target $69
DBAB
Hold
Las Vegas Sands price target raised to $69 from $60 at Deutsche Bank
Deutsche Bank analyst Carlo Santarelli raised his price target for Hold-rated Las Vegas Sands to $69 from $60 following the company's Q1 beat. The analyst views the report as "solid" but sees the stock's current valuation as "reasonable and fair."
04/18/19
JPMS
04/18/19
NO CHANGE
Target $71
JPMS
Neutral
Las Vegas Sands price target raised to $71 from $62 at JPMorgan
JPMorgan analyst Joseph Greff raised his price target for Las Vegas Sands (LVS) to $71 from $62 following the company's Q1 results. The analyst sees "lots of moving pieces" in the print and keeps a Neutral rating on the shares. Greff thinks there are reasons to be optimistic that the Macau market will rebound later in Q2 of Q3, but at current share levels, he sees more value and better risk/rewards in Wynn Resorts (WYNN) and Melco Resorts & Entertainment (MLCO).
04/17/19
HSBC
04/17/19
DOWNGRADE
Target $65.4
HSBC
Hold
HSBC downgrades Las Vegas Sands to Hold on valuation
HSBC analyst Charlene Liu downgraded Las Vegas Sands (LVS) to Hold from Buy and lowered her price target for the shares to $65.40 from $69.50. The analyst cites valuation for the downgrade and notes her new target implies 2% downside. Between Las Vegas Sands and Sands China (SCHYY), a stock Liu downgraded to Hold earlier this week, the analyst continues to prefer direct exposure to Macau through Las Vegas Sands' Hong Kong-listed subsidiary Sands China. She prefers Macau over Singapore for its "bigger market size and high growth potential." Liu maintains a Buy rating on Genting Singapore (GIGNY).
WYNN Wynn Resorts
$144.35

1.35 (0.94%)

04/25/19
04/25/19
UPGRADE
Target $150

Buy
Wynn Resorts upgraded to Buy, catalysts ahead, says BofA/Merrill
As previously reported, BofA/Merrill upgraded Wynn Resorts to Buy from Neutral and trimmed its price target to $150 from $165. Analyst Shaun Kelley names three catalysts for the upgrade, they are a flattening out of China macro data and easing policies that will improve second half 2019 Macau gross gaming revenue growth, the June opening of Encore Boston and resulting EBITDA growth, and reduced capex resulting in potential accelerating capital returns or M&A in late fall/early 2020.
04/25/19
BOFA
04/25/19
UPGRADE
BOFA
Buy
Wynn Resorts upgraded to Buy from Neutral at BofA/Merrill
04/10/19
GSCO
04/10/19
INITIATION
GSCO
Neutral
Wynn Resorts resumed with a Neutral at Goldman Sachs

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CNTY

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$9.83

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$10.90

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ATH

Athene Holding

$42.58

-0.8 (-1.84%)

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