Jefferies Reiterates Buy on MGM Resorts International

Jefferies is out with its report today on MGM Resorts International (NYSE: MGM), reiterating Buy.

In its report, Jefferies writes, "Jefferies hosted investor meetings with MGM management on 9/12-9/13. Our view is that with Mgt reiterating that fundamentals in LV and Macau are improving despite recent shocks to the financial markets and macroeconomic expectations resetting, concerns over stability in the shareholder base are perhaps overblown. As such, the shares appear considerably undervalued. Reiterate BUY rating."

Jefferies maintains a $19 PT on MGM.

At the time of posting, shares of MGM were trading pre-market at $10.75, up 2.09% from Tuesday's close.