Macau casinos see a surge in traffic and betting volume during Golden Week (NASDAQ:MLCO)
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Oct 08 2024
0mins
Source: SeekingAlpha
Record Visitor Numbers: Macau experienced a record visitor count of 993,117 during the October Golden Week from October 1 to October 7.
Increase in Tourism: This figure represents a 2% increase compared to previous years, indicating a positive trend in tourism for the region.
Analyst Views on MLCO
Wall Street analysts forecast MLCO stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for MLCO is 11.21 USD with a low forecast of 9.50 USD and a high forecast of 12.55 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
4 Analyst Rating
3 Buy
1 Hold
0 Sell
Strong Buy
Current: 6.340
Low
9.50
Averages
11.21
High
12.55
Current: 6.340
Low
9.50
Averages
11.21
High
12.55
About MLCO
Melco Resorts & Entertainment Ltd is a Company engaged in the development and operation of resort facilities. The Company is engaged in the operation of casinos in Macau and Philippines. The Company operates three casinos based in Macau, namely, City of Dreams, Altira Macau and Studio City. In addition, the Company is engaged in the operation of hotels in Macau and Manila.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
