MGM Resorts International (MGM) : Analyst Rating Update

MGM Resorts International (MGM) : Zacks Investment Research ranks MGM Resorts International (MGM) as 3, which is a Hold recommendation. 11 research analysts consider that the stocks fundamentals point to a bright future, hence they rate the stock as a Strong Buy. 2 other analysts are mildly bullish on the stock and favor a Buy. A total of 1 analysts believe that the stock has a limited upside, hence they advise a Hold. The average broker rating of 14 research analysts is 1.25, which indicates as a Strong Buy.

MGM Resorts International (MGM) stock is expected to deviate a maximum of $1.25 from the average target price of $29.3 for the short term period. 10 Street Experts have initiated coverage on the stock with the most promising target being $31 and the most muted being $27.

MGM Resorts International (NYSE:MGM): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $22.38 and $22.33 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $22.96. The buying momentum continued till the end and the stock did not give up its gains. It closed at $22.95, notching a gain of 1.77% for the day. The total traded volume was 5,352,418 . The stock had closed at $22.55 on the previous day.

Also, UBS maintains their rating on the shares of MGM Resorts International (NYSE:MGM). The current rating of the shares is Buy. Equity Analysts at the Firm lowers the price target to $29 per share. The rating by the firm was issued on June 20, 2016. The company shares have rallied 28.34% from its 1 Year high price. On Jun 9, 2016, the shares registered one year high at $25.29 and the one year low was seen on Feb 9, 2016. The 50-Day Moving Average price is $23.36 and the 200 Day Moving Average price is recorded at $21.37.

MGM Resorts International is a holding company. Through its wholly owned subsidiaries, the Company owns and operates casino resorts. The Company operates in two segments: wholly owned domestic resorts and MGM China. The wholly owned domestic resorts segment includes non-gaming operations, including hotel, food and beverage, entertainment and other non-gaming amenities. Its casino operations feature a variety of table games, and race and sports book wagering. It operates over 15 wholly owned resorts in the United States. The MGM China segments operations consist of the MGM Macau resort and casino (MGM Macau) and the development of a gaming resort in Cotai, Macau. It owns and operates two resorts in Mississippi, which includes Beau Rivage in Biloxi and Gold Strike Tunica. It also owns Shadow Creek, Primm Valley Golf Club at the California/Nevada state line and Fallen Oak golf course in Saucier, Mississippi.

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