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Investing.com - Citi maintained its Buy rating and $11.00 price target on Melco Resorts & Entertainment Limited (NASDAQ:MLCO) on Friday.
The research firm expects Melco to outperform its industry peers in the upcoming quarter, with property EBITDA projected to increase 12% year-over-year in Q2 2025.
This growth rate significantly exceeds the approximately 3% year-over-year EBITDA increase Citi anticipates for the broader Macau casino industry during the same period.
Citi believes this above-industry performance could drive positive momentum for Melco’s share price when the company announces its earnings results, confirmed for August 13 according to InvestingPro. Get access to 10+ additional exclusive ProTips and comprehensive analysis with an InvestingPro subscription.
Melco Resorts & Entertainment operates casino and entertainment resorts across Asia, with significant properties in Macau, the Philippines, and Cyprus.
In other recent news, Melco Resorts & Entertainment Limited has experienced several notable developments. Citi has raised its price target for Melco Resorts to $11.00, up from $8.60, while maintaining a Buy rating, citing strong EBITDA growth prospects. The firm forecasts a 12% year-over-year increase in adjusted property EBITDA for the second quarter of 2025, attributing this to successful initiatives like the reopening of House of Dancing Water. Additionally, BofA Securities has increased its price target for Melco Resorts to $6.60 from $5.70, maintaining a Neutral rating. This adjustment is based on an expected increase in Macau’s Gross Gaming Revenue market share and anticipated interest savings due to lower HIBOR rates.
In governance news, Melco Resorts has appointed John Peter Ben Wang as an independent non-executive director. Wang, who previously served on the board, will chair the audit and risk committee and join other key committees. Furthermore, Melco Resorts announced operational updates for its Mocha Clubs and Grand Dragon Casino (EPA:CASP), emphasizing its commitment to adapting to the evolving gaming landscape. These updates were communicated through a Form 6-K filing with the Securities and Exchange Commission. The company continues to focus on optimizing its entertainment offerings as part of its strategic priorities.
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