MGM Resorts price target raised to $55 from $54 at JPMorgan

JPMorgan analyst Joseph Greff raised the firm’s price target on MGM Resorts to $55 from $54 and keeps an Overweight rating on the shares ahead of the Q1 results. The analyst continues to see value in MGM shares and believes the company possesses an "attractive combination" of exposure to the Las Vegas Strip and Macau’s recovery. The firm believes the company has a path to digital EBITDA profitability as well as a strong liquidity and capital structure position. The stock is pricing in too much negativity regarding the sustainability of strong U.S. trends and the impact of a murky macroeconomic environment, contends JPMorgan.