International edition
October 28, 2021

Wells Fargo weighs in

Macau forecasts casino shares outperforming

(Macau).- Wells Fargo reaffirmed its “outperform” rating for stocks from Macau casino operators. The stockbroker says there is a risk of a 10 percent downside for shares in Las Vegas Sands and Wynn Resorts as growth in VIP gaming revenue begins to decelerate.  

I

t says near-term valuations of Macau casino stocks are still bottoming out and that the market for them could remain choppy over the summer.
 
But Wells Fargo says it remains bullish about its medium-term and long-term outlook.

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