Bell Potter analyst Lafitani Sotiriou reckons investors should buy Crown Resorts while sentiment is weak
Bell Potter analyst Lafitani Sotiriou reckons investors should buy Crown Resorts while sentiment is weak. Despite the recent string of bad news items, the key medium- to longer-term value drivers are still there. Sotiriou notes Dreams Manila opens in a few months, Studio City in a year and Melco Crown's capital expenditure profile will fall without any additional projects. Already, there is capacity for a new $US500 million buyback of Melco Crown's shares on market as announced overnight, Sotiriou writes in a research note to clients on Monday.Bell Potter has a buy recommendation on Crown shares and $19.50 price target. Follow the link to read more: (VIEW LINK)
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