MGM Resorts price target raised to $56 from $53 at Stifel

Stifel analyst Steven Wieczynski raised the firm’s price target on MGM Resorts to $56 from $53 and keeps a Buy rating on the shares. MGM demonstrated the power of its diversification this quarter, as Vegas and Macau were "extremely strong," and while "some would say" regionals/OSB/iGaming were "disappointing," the firm would disagree, describing those segments as "right down the middle." Vegas and regional comparisons get more difficult moving forward, but the firm believes the Macau recovery story, as well as their OSB and iGaming ramp, are "only in the early innings," the analyst tells investors.