SJMHY - Macau stocks perk up as analysts become incrementally more positive

JPMorgan forecasts 2022 gross gaming revenue in Macau will be just over 50% of the pre-pandemic level seen in 2019 off a 70% recovery in mass and a 24% recovery in VIP. That is a slight lift to the previous outlook. Jefferies is also incrementally positive on the Macau outlook. Analyst David Katz says the Macau market could be close to bottoming with current local C-19 outbreaks in China falling to single-digit daily cases and a partial China-Hong Kong border opening possible before year-end. However, he warns that recovery will be gradual unless the Greater Bay Area becomes quarantine-free. Las Vegas Sands (NYSE:LVS) is up 1.67% in premarket trading and Melco Resorts & Entertainment (NASDAQ:MLCO) is 2.19% higher. Other Macau stocks: Wynn Macau (OTCPK:WYNMF, OTCPK:WYNMY), Wynn Resorts (NASDAQ:WYNN), Sands China (OTCPK:SCHYY, OTCPK:SCHYF), MGM China (OTCPK:MCHVF, OTCPK:MCHVY), MGM Resorts (NYSE:MGM), Galaxy Entertainment (OTCPK:GXYEF), SJM Holdings (OTCPK:SJMHF, OTCPK:SJMHY), Studio City International (NYSE:MSC).

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Macau stocks perk up as analysts become incrementally more positive