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Investing.com - Citi raised its price target on Melco Resorts & Entertainment Limited (NASDAQ:MLCO) to $11.00 from $8.60 while maintaining a Buy rating.
The price target increase represents a 28% upside from the previous target, with Citi placing a 30-day upside Catalyst Watch on the casino operator. According to InvestingPro, the stock is trading near its 52-week high of $8.90, with several positive indicators suggesting continued momentum.
Citi expects Melco to show one of the greatest year-over-year EBITDA improvements among the six casino operators it covers, forecasting second-quarter 2025 adjusted property EBITDA to increase 12% year-over-year to $338 million. This outlook aligns with the company’s GREAT financial health score from InvestingPro and impressive 14% revenue growth over the last twelve months.
The firm attributes the projected EBITDA growth to early success from the re-opening of House of Dancing Water at City of Dreams and the company’s cost discipline.
Citi also opened a 30-day upside Catalyst Watch on Galaxy Entertainment (OTC:GXYEF), projecting its Q2 2025 adjusted EBITDA to grow 11% to HK$3,539 million, likely due to the soft opening of Capella and its concert lineup during the quarter.
In other recent news, Melco Resorts & Entertainment Limited has made several notable announcements. The company has appointed John Peter Ben Wang as an independent non-executive director, where he will chair the audit and risk committee and join the compensation and nominating committees. This move is part of Melco’s ongoing efforts to strengthen its corporate governance. Additionally, Melco has reported operational updates concerning its Mocha Clubs and Grand Dragon Casino (EPA:CASP), though specific details were not disclosed. In analyst news, BofA Securities raised its price target for Melco Resorts to $6.60, up from $5.70, while maintaining a neutral rating, citing a higher expected market share in Macau’s Gross Gaming Revenue. The company has also filed a Form 6-K with the SEC, confirming its commitment to regulatory compliance. This filing was signed by Graham Paul Winter, the Chief Legal Officer and Company Secretary. These developments reflect Melco’s strategic focus on governance, operational adjustments, and financial positioning within the gaming industry.
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