Wells Fargo analyst Daniel Politzer raised the firm’s price target on MGM Resorts (MGM) to $46 from $44 and keeps an Overweight rating on the shares. The firm notes MGM had a better-than-expected Q4 result, especially in Las Vegas, where EBITDAR was +5% vs Wells Fargo’s estimate and +2% vs Street. Its demand outlook was also far more positive than expected, with management upbeat on FY25 growth prospects.
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