Barclays analyst Brandt Montour initiated coverage of MGM Resorts with an Overweight rating and $59 price target. MGM is a premium diversified global gaming operator at an attractive valuation with "multiple ways to win," including Las Vegas strength, Macau recovery, new project pipeline and elevated share repurchases near-term, the analyst tells investors in a research note. The firm believes the company has "attractive premium positioning" in Las Vegas as well as U.S. regionals.
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Published first on TheFly
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