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

 

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