Deutsche Bank bullish on Macau, ups 2014 GGR growth estimate to 20 percent

Deutsche Bank analysts say they returned from a recent trip to Macau more bullish than ever on the outlook for the territory. They raised their estimates for 2014 gross gaming revenue to 20 percent from 15 percent. 

That breaks down to 14 percent growth for the VIP market and 34 percent for the mass. The German bank said its top picks are Galaxy, Melco Crown and MGM China. It upped its target price on Galaxy to HK$90, a 41 percent upside potential. Melco was raised to to US$50, with 36 percent upside potential and MGM China was upgraded from Hold to Buy with a price target of HK$38, an upside of 30 percent.

 

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