MGM Resorts price target lowered by $3 at Barclays, here’s why

Barclays analyst Brandt Montour lowered the firm’s price target on MGM Resorts to $57 from $60 and keeps an Overweight rating on the shares. The analyst expects travel and leisure demand to prove relatively resilient overall, but with pockets of varying weakness as consumers become more discerning with their budgets. The firm favor industries with attractive value propositions to the consumer and companies with unique growth catalysts or self-help. The rating change is part of Barclays’ 2024 gaming, lodging and leisure outlook.