Barclays lowered the firm’s price target on MGM Resorts to $60 from $62 and keeps an Overweight rating on the shares post the Q3 report. Regionals beat and Las Vegas was noisy but better than feared, the analyst tells investors in a research note. The firm’s Q4 and 2024 estimates move lower but it says MGM’s fundamentals are still intact the stock’s valuation is cheap.
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Read More on MGM:
- MGM Resorts Stock (NYSE:MGM) Rises on Q3 Beat, Share Buyback Plan
- MGM Resorts board authorizes $2B share repurchase plan
- MGM RESORTS INTERNATIONAL REPORTS THIRD QUARTER 2023 FINANCIAL AND OPERATING RESULTS
- MGM Resorts reports Q3 adjusted EPS 64c, consensus 49c
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