Analysis: Take the long view on Macau casino stocks

• Telsey Advisory Group is out in defense of Macau casino stocks.
• Despite a rough patch for earnings this year, resort openings in Cotai set up the group for gains next year, say analysts.
• A rash of downward earnings revisions on Macau casino stocks due to softer traffic trends has weighed on shares over the last few weeks.
• Macau-related stocks: MPEL, MGM, WYNN, LVS, OTCPK:GXYEF, OTCPK:SJMHF.