UPDATE: Bank Of America Reiterates On MGM Resorts International
In a note released Monday morning, Bank of America analyst Shaun Kelly reiterated a Buy on MGM Resorts International (NYSE: MGM) and left his $33.50 price objective unchanged.
The reiteration comes following a meeting with MGM executives in which Kelley came away "continuing to believe MGM has a big recovery opportunity in Las Vegas."
Looking to Las Vegas, Kelley noted that MGM is seeing healthy revenue growth in both baccarat ad non-baccarat tables and should benefit from the re-opening/re-branding of Delano in September.
For 2014-2016 Kelley is estimating a non-GAAP EPS of $0.64, $0.73 and $1.07, respectively.
Latest Ratings for MGM
|Jun 2016||Deutsche Bank||Maintains||Buy|
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