** U.S.-listed shares of casino operator Melco Resorts & Entertainment MLCO.O up ~13.1% at $8.18
** J.P. Morgan upgrades MLCO to "overweight" from "neutral" rating, says plenty of room for the stock to move higher
** Brokerage says Macau's gross gaming revenue $(GGR)$ has been beating seasonality and expectations for three consecutive months
** JPM says MLCO is financially the most levered name in Macau, which can be a significant boon for its equity value
** Brokerage raises PT to $9.50 from $7.20, a ~31.4% upside on stock's last close
** Nine of 13 brokerages rate the stock "buy" or higher, three "hold" and one "sell"; their median PT is $7.95 - LSEG data
** Including session's moves, stock up ~39.7% YTD
(Reporting by Prakhar Srivastava in Bengaluru)
((Prakhar.srivastava2@thomsonreuters.com))
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