Credit Suisse Bumps Up MGM Resorts Price Target By 106%

by Shivani Kumaresan, Benzinga Staff Writer

October 12, 2021 8:37 AM | 1 min read | Make a Comment

Credit Suisse analyst Benjamin Chaiken upgraded MGM Resorts International MGM to Outperform from Neutral and hiked the price target to $68 from $33, suggesting a 52.77% upside.
The company has "gone through a transformation," recently announcing four transactions that the market is not giving it full credit for, Chaiken notes.
Chaiken now sees MGM as a "cleaner more simplified organization" with a more attractive capital structure and believes MGM can beat consensus estimates.
Price Action: MGM shares are trading higher by 2.21% at $45.40 in premarket on the last check Tuesday.