Mizuho lowered the firm’s price target on MGM Resorts (MGM) to $56 from $58 and keeps an Outperform rating on the shares. The firm sees stronger than expected market growth in Macau being offset by likely market share losses for MGM and weaker than expected growth in Las Vegas. Mizuho reduced estimates but says investor sentiment on the stock is “very poor.” As such, the risk for MGM shares “may be to the upside,” the analyst tells investors in a research note.
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