MGM Resorts International (NYSE:MGM) shares trading higher after JPMorgan upgraded the stock from Neutral to Overweight and announced $47 per share.

MGM Resorts is the largest resort operator on the Las Vegas Strip with 35,000 guest rooms and suites, representing about one fourth of all units in the market. The company's Vegas properties include MGM Grand, Mandalay Bay, Mirage, Luxor, New York-New York, and a 50% ownership stake in CityCenter.

The stock was trading 4.41% higher at $40.46 per share at the time of writing. The stock has a 52-week high of $42.74 and a 52-week low of $14.64.