J.P. Morgan Downgrades Melco Resorts & Entertainment (MLCO) To Hold

Group 1 - Melco Resorts & Entertainment Limited (NASDAQ:MLCO) has been downgraded by J.P. Morgan from Buy to Hold, with a price target reduced from $11 to $7.7 [1] - Bank of America Securities reiterated a Hold rating on the stock, lowering the price target from $9.5 to $7.9 [1][2] - Analysts at BofA express a cautious outlook on the Macau gaming sector, expecting gross gaming revenue to slow down in 2026 [2] Group 2 - J.P. Morgan analysts are also adopting a selective approach in the gaming sector, citing risks regarding consensus estimates for Melco Resorts [3] - Melco operates three casinos in Macau: City of Dreams, Studio City, and Altira Macau [3]