MGM Resorts price target raised to $54 from $50 at Truist

Truist analyst Barry Jonas raised the firm’s price target on MGM Resorts to $54 from $50 and keeps a Buy rating on the shares after its Q4 EBITDAR topped expectations. The company’s Las Vegas operations continue to outperform ahead of a robust 2023 event calendar, while Macau offers substantial upside based on the year-to-date trends, the analyst tells investors in a research note.