MGM Resorts price target lowered to $52 from $57 at Deutsche Bank

Deutsche Bank lowered the firm’s price target on MGM Resorts to $52 from $57 but keeps a Buy rating on the shares. The stock has struggled in 2024 and lagged peers more recently, with concerns around Las Vegas Strip trends as well as challenging Strip comparisons for MGM specifically serving as the primary points of contention for investors, the analyst tells investors in a research note. The firm adds that Las Vegas Strip trends are likely to remain challenging, and given that the stock’s action has long been tied to investor sentiment around Strip trends, it is possible that MGM Resorts shares will struggle to move higher over the near term.