JP Morgan Lifts PT on Melco Resorts & Entertainment Limited (MLCO) to $11 From $10.50

Melco Resorts & Entertainment Limited (NASDAQ:MLCO) is one of the best cheap stocks under $10 to buy now. On November 10, JP Morgan lifted the price target on Melco Resorts & Entertainment Limited (NASDAQ:MLCO) to $11 from $10.50 while keeping an Overweight rating on the shares.

Melco Resorts & Entertainment Limited (NASDAQ:MLCO) reported its unaudited fiscal Q3 2025 earnings on November 6, with total operating revenues for the quarter reaching $1.31 billion, up approximately 11% from $1.18 billion in the prior year period. Management attributed this growth to improved performance in both overall gaming and non-gaming operations.

Mr. Lawrence Ho, Melco Resorts & Entertainment Limited (NASDAQ:MLCO) Chairman and Chief Executive Officer, stated that the company’s properties in Macau delivered strong growth in the quarter, with Macau Property EBITDA improving by 21% year-over-year and margins remaining stable due to a focus on cost discipline and strengthening core business.

Melco Resorts & Entertainment Limited (NASDAQ:MLCO) also delivered a similarly strong performance in other geographical settings, with Property EBITDA rising 45% quarter-over-quarter in the Philippines, and the company’s satellite casinos had the best quarter since opening in Cyprus, City of Dreams Mediterranean, experiencing a 53% year-over-year property EBITDA growth.

Melco Resorts & Entertainment Limited (NASDAQ:MLCO) develops and operates resort facilities, hotels, and casinos in the Philippines and Macau. The company’s three Macau casinos include City of Dreams, Studio City, and Altira Macau.

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Disclosure: None. This article is originally published at Insider Monkey.