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Las Vegas Sands Corp. Message Board

  • ksa_97 ksa_97 Mar 8, 2013 10:56 AM Flag

    Morgan Stanley Bullish on Galaxy and Melco

    Guess this is what caused the POP om those two:

    Morgan Stanley has just significantly revised its price targets for both Galaxy Entertainment Group Ltd and Melco Crown Entertainment Ltd.

    The investment bank revised the price target for Galaxy Entertainment to HK$39 (US$5.03) from HK$29, on the back of the gaming operator’s expansion plans in Cotai.

    “We have revised up our price target primarily based on inclusion of Phase 2 for the first time in our base case,” analysts Praveen K. Choudhary and Katherine Sun wrote in a client note released yesterday.

    The two analysts say that the gaming operator’s expansion plans for the next four years “will support sustainable earnings growth of 20 percent per annum and attractive returns for patient shareholders.”

    In a different client note also issued yesterday, the same two analysts revised Melco Crown’s price target to US$28.0 from US$17.50.

    “Existing Macau business should beat consensus expectations for 2013 and upside from Philippines (opening 2014) and Studio City (2015) should drive growth in future,” Mr Choudhary and Ms Sun wrote.

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