What is going on ??, page-39

UBS maintained a ‘Buy’ recommendation yesterday (Target $15.15 down from $15.80) citing signs of stabilisation in the mass market and premium market segments. They believe that the revenue could return to growth for the first time since the first quarter of 2014.
Macquarie also maintained an ‘Outperform’ rating but cut their target price from $16 to $13.70. Strong value in domestic business although they have doubts about the consensus upgrades to Macau expectations.
Technically this looks oversold, having fallen through support at around $11.50. Next support may be at the symbolic level of $10 where the last break-out occurred.
It looks like there is value here from a fundamental standpoint and I expect that it will move back to $11 in the short term.