Market Overview

UPDATE: Credit Suisse Upgrades MGM Resorts International to Outperform on Balance Sheet Recovery

Related MGM
Macau Gaming Investors Should Keep Seatbelts Fastened, Credit Suisse Warns
Could A Smoking Ban Hurt Macau Casinos?
Can't Go Wrong With Rite-Aid - Cramer's Lightning Round (11/24/15) (Seeking Alpha)

Credit Suisse upgraded MGM Resorts International (NYSE: MGM) from Neutral to Outperform and raised the price target from $15.00 to $17.00.

Credit Suisse said, "An appetite for yield has allowed MGM to refinance its capital structure as it has extended maturities and reduced borrowing costs. A new lease on life while Strip fundamentals are soft has allowed MGM to target growth projects (Springfield, National Harbor, Cotai) while positioning it to capitalize on a domestic recovery. Catalysts: 1) Selection of preferred bid(s) in Springfield (late January); 2) 4Q12 results (late February); 3) MGM Cotai approvals including land gazette; 4) update on National Harbor; and 5) continued recovery in Strip trends."

MGM Resorts International closed at $12.68 on Monday.

Latest Ratings for MGM

Nov 2015UBSUpgradesNeutralBuy
Nov 2015SusquehannaMaintainsPositive
Sep 2015SusquehannaMaintainsPositive

View More Analyst Ratings for MGM
View the Latest Analyst Ratings

Posted-In: Credit SuisseAnalyst Color Upgrades Intraday Update Analyst Ratings


Related Articles (MGM)

Get Benzinga's Newsletters