UPDATE: Citigroup Raises PT to $15 on MGM Resorts International
Citigroup remains Neutral-rated on MGM Resorts International (NYSE: MGM) to $15 from $11 as it rolls estimates forward to 2013.
Citigroup says, "We have lowered our 2012-13E earnings estimates after the modestly weaker 4Q11 results. We maintain our Neutral rating on MGM, with a new TP of US$15.00 (from US$11.00), as we roll forward to 2013 earnings and reflect the recent appreciation in MGM's market value (+28%YTD)."
MGM closed at $14 a share yesterday.
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