Jefferies downgraded Entain (GMVHF) to Hold from Buy with a price target of 915 GBp, down from 1,335 GBp. The analyst cut earnings estimates through fiscal 2026 to reflect the company’s greater BetMGM investment and higher interest costs. Entain’s restructuring, MGM Resorts’ (MGM) own new share buyback program plus distractions from the cyberattack and Formula One in Las Vegas, may mean MGM sits on the sidelines and does not bid for Entain until clear U.S. market share gains are visible, the analyst tells investors in a research note.
Meet Your ETF AI Analyst
- Discover how TipRanks' ETF AI Analyst can help you make smarter investment decisions
- Explore ETFs TipRanks' users love and see what insights the ETF AI Analyst reveals about the ones you follow.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See Insiders’ Hot Stocks on TipRanks >>
Read More on MGM:
- Bet On It: Online sports betting returns to Florida
- Vegas hospitality unions reach labor deal with Wynn Resorts, Reuters reports
- MGM Resorts price target lowered to $55 from $59 at Stifel
- MGM Resorts price target lowered to $54 from $58 at Wells Fargo
- MGM Resorts price target lowered to $60 from $62 at Barclays