Credit Suisse Sticks to Its Buy Rating for MGM Resorts (MGM)

Credit Suisse analyst Benjamin Chaiken maintained a Buy rating on MGM Resorts (MGMResearch Report) on August 4 and set a price target of $72.00. The company’s shares closed last Friday at $34.71.

According to TipRanks, Chaiken is a 4-star analyst with an average return of 7.8% and a 54.10% success rate. Chaiken covers the Services sector, focusing on stocks such as Cedar Fair, Carnival, and International Game Technology.

In addition to Credit Suisse, MGM Resorts also received a Buy from Wells Fargo’s Daniel Politzer in a report issued on August 4. However, on the same day, Stifel Nicolaus maintained a Hold rating on MGM Resorts (NYSE: MGM).

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MGM market cap is currently $14.79B and has a P/E ratio of 4.86.

Based on the recent corporate insider activity of 52 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of MGM in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

MGM Resorts International is a holding company, which engages in the ownership and operations of casino resorts. The firm’s casino resorts offer gaming, hotel, convention, dining, entertainment, retail, and other resort amenities. It operates through the following business segments: Las Vegas Strip Resorts, Regional Operations and MGM China. The Las Vegas Strip Resorts segment consists of the following casino resorts: Bellagio, MGM Grand Las Vegas, Mandalay Bay, The Mirage, Luxor, New York-New, Excalibur, Park MGM, and Circus Las Vegas. The Regional Operations segment consists of the following casino resorts: MGM Grand Detroit in Detroit, Michigan; Beau Rivage in Biloxi, Mississippi; Gold Strike Tunica in Tunica, Mississippi; Borgata in Atlantic City, New Jersey; MGM National Harbor in Prince George’s County, Maryland; and MGM Springfield in Springfield, Massachusetts. The MGM China segment consists of MGM Macau and MGM Cotai. The company was founded by Kerkor Kerkorian on January 29, 1986 and is headquartered in Las Vegas, NV.

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