From today's Australian:
11.27AM Crown shares hit by downgrade
The James Packer-backed Crown Resorts has been downgraded by analysts after casino rival The Star Entertainment Group took over as the number one destination for international VIPs.
The gaming analysts at JP Morgan revealed in a client note that following the recent performance of Crown they had reviewed their investment thesis for the casino company and downgraded their recommendation on the stock from “buy” to “hold”. The bank maintained its target price on Crown at $13.50.
From today's Australian: 11.27AM Crown shares hit by downgrade...
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