The markets are corrupt. Three days ago there was an analyst saying that Macau decline will be worse than expected and LVS should be valued at $45. This is just needed to drive the price down in front of ex dividend date. Now another one comes out after ex dividend date and purports that all of the fears are overblown. Analysts manipulate the price to meet their needs.
•Brean Capital makes a strong call on the Macau casino sector.
•Las Vegas Sands (NYSE:LVS), Wynn Resorts (NASDAQ:WYNN), Melco Crown (NASDAQ:MPEL), and MGM Resorts (NYSE:MGM) are all initiated with Buy ratings.
•The investment firm notes the headline-grabbing revenue declines in the sector are exaggerated to a degree by the audacious growth rates in the sector over the last few years.
•New properties which open in the second half of this year should help drive traffic again, reasons Brean.
•Previously: Macau: Did somebody say dividend cuts? (Mar. 09 2015)
•Previously: UBS pushes out Macau recovery outlook to 2016 (Mar. 17 2015