Macau Casino Bulls Seen Capitulating After Stocks Tumble
This article is for subscribers only.
Macau casino analysts are a persistent bunch.
After shares of Galaxy Entertainment Group Ltd. and five listed peers tumbled an average 27 percent in the past six months through yesterday, analysts have barely touched their bullish ratings, with the consensus call slipping to 4.3 from 4.4 on a scale where 5 equates to a unanimous buy recommendation. No other group of stocks worldwide with market values of at least $10 billion and ratings above 4 has declined so much, according to data compiled by Bloomberg.