Melco Resorts & Entertainment Limited (NASDAQ:MLCO) is among the best NASDAQ stocks under $10 to buy. As of December 15, Melco Resorts & Entertainment Limited has a rating of ‘Buy’ or equivalent from 69% of the analysts covering the stock. With a median price target of $11.38, the stock has an upside potential of 42.54%.
According to TheFly, BofA slightly lifted the price target on Melco Resorts & Entertainment Limited to $9.50 from $9 on November 27, while maintaining a ‘Neutral’ rating on the stock. In line with management’s statement on the third-quarter earnings call to resume its quarterly dividend by year-end 2026, the analyst anticipates a dividend per ADS of 7c and 30c in FY26 and FY27, respectively.
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During the last earnings call, management reaffirmed the company’s focus on introducing new initiatives to improve the quality of engagement with its customers. Melco Resorts & Entertainment Limited plans to close two Mocha Clubs before heading into 2026 and relocate the gaming machines across its three properties in Macau. By the third quarter of 2026, the company expects to open the Countdown Hotel, which is currently being renovated. Once completed, this hotel will bring a unique experience to Macau and the region, said Lawrence Ho, the Chairman and CEO. He further added,
“We plan to simultaneously upgrade retail and food and beverage in this precinct of COD and continue to elevate the quality of our product offerings.”
Melco Resorts & Entertainment Limited is a Hong Kong-based company specializing in casino gaming and resort facilities. Founded in 2004, the company operates City of Dreams, Altira Macau, Studio City, and Mocha Clubs, among others.
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