Stryker shares tumble despite strong Q2 results and raised guidance
Melco Resorts & Entertainment Ltd (MLCO) stock has reached a significant milestone, achieving a 52-week high of 8.9 USD. This marks a notable point in the company’s performance over the past year. The stock has shown impressive growth, with a 1-year change of 36.46%, reflecting investor confidence and positive market conditions for the company. With a market capitalization of $3.62 billion and expected net income growth this year, Melco Resorts demonstrates resilience in the competitive entertainment and hospitality industry. InvestingPro subscribers can access 8 additional key insights and a comprehensive analysis of MLCO’s valuation metrics and growth potential.
In other recent news, Melco Resorts & Entertainment Limited announced significant developments that may interest investors. Citi has raised its price target for Melco Resorts to $11.00, up from $8.60, maintaining a Buy rating, citing strong anticipated growth in EBITDA. The firm expects Melco to achieve a 12% year-over-year increase in adjusted property EBITDA for the second quarter of 2025, reaching $338 million, due to successful re-openings and cost management. Additionally, BofA Securities adjusted its price target for Melco Resorts to $6.60, an increase from $5.70, while maintaining a Neutral rating, influenced by an expected increase in Macau’s Gross Gaming Revenue market share and anticipated interest savings. In governance news, Melco Resorts appointed John Peter Ben Wang as an independent non-executive director, who will chair the audit and risk committee, bringing extensive financial expertise to the board. The company also announced operational updates through a Form 6-K filing, focusing on its Mocha Clubs and Grand Dragon Casino (EPA:CASP), although specific details were not disclosed. These updates are part of Melco Resorts’ strategy to adapt to the evolving gaming landscape and regulatory environment. The company’s focus on regulatory compliance and transparency is underscored by its recent filings with the Securities and Exchange Commission.
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