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UPDATE: Bank Of America Reiterates On MGM Resorts International

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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

DateFirmActionFromTo
Jun 2016UBSMaintainsBuy
Jun 2016SusquehannaMaintainsPositive
Jun 2016Deutsche BankMaintainsBuy

View More Analyst Ratings for MGM
View the Latest Analyst Ratings

Posted-In: Bank of America Shaun KelleyAnalyst Color Price Target Reiteration Analyst Ratings

 

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