Market Overview

UPDATE: Credit Suisse Reiterates On MGM Resorts International As Investments Will Pay Dividends

Share:
Related MGM
Land and Buildings Letter to MGM Board Shows Firm Says Does Not Intend to Nominate Board Members at '15 Meeting, Considering Evaluation of Separation Through REIT
Viking Global Liked AIG, Google, Actavis, Illumina And Cheniere Energy Last Quarter
Tracking Ole Andreas Halvorsen's Viking Global Portfolio - Q1 2015 Update (Seeking Alpha)

In a report published Wednesday, Credit Suisse analyst Joel Simkins reiterated an Outperform rating on MGM Resorts International (NYSE: MGM), and raised the price target from $30.00 to $33.00.

In the report, Credit Suisse noted, “As the LV recovery continues we see the MGM portfolio (27% of LV room capacity) as well-positioned for growth. We believe $720m of current investments (not all funded by MGM) including a new arena, convention space, the Delano, and ancillary attractions will pay significant dividends for MGM beginning in 2016, particularly at Mandalay Bay, NY-NY, Luxor and Monte Carlo.”

MGM Resorts International closed on Tuesday at $25.27.

Latest Ratings for MGM

DateFirmActionFromTo
May 2015Deutsche BankMaintainsBuy
May 2015SusquehannaMaintainsPositive
May 2015Stifel NicolausMaintainsBuy

View More Analyst Ratings for MGM
View the Latest Analyst Ratings

Posted-In: Credit Suisse Joel SimkinsAnalyst Color Price Target Analyst Ratings

 

Related Articles (MGM)

Around the Web, We're Loving...