Maquarie Likes MGM as Top Vegas Play

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In a note today, analysts at Macquarie Research said July non-gaming Las Vegas statistics continue to reflect a healthy and growing market. They point to MGM
MGM
as their top pick amongst the large-cap gaming stocks. Macquarie has an Outperform rating on the shares with a $33 dollar price target, which is a 38 percent premium the the present stock level of 24.41. Macquarie feels the next leg up will be increased room rates, with MGM at the forefront. Caesar's Entertainment
CZR
would also likely feel the benefit of raising the bar on prices as well. Shares of MGM and CZR are trading down 1.85 percent and 0.67 percent respectively. Elsewhere in the Casino & Gaming space, shares of Wynn
WYNN
are trading down 2.12 percent while shares of Las Vegas Sands
LVS
are lower by 2.08 percent.
Posted In: NewsCasinos & GamingConsumer Discretionary
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