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

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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
Dec 2016Aegis CapitalInitiates Coverage OnBuy
Dec 2016Aegis CapitalInitiates Coverage OnBuy
Dec 2016Goldman SachsInitiates Coverage OnBuy

View More Analyst Ratings for MGM
View the Latest Analyst Ratings

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

 

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