MGM Resorts International (MGM) Receives Price Target

MGM Resorts International (MGM) : The consensus price target for MGM Resorts International (MGM) is $29.22 for the short term with a standard deviation of $1.09. The most optimist securities analyst among the 9 who monitor the stock believes that the stock can reach $31, however, the pessimist price target for the company is $27.

MGM Resorts International (MGM) : 13 analysts are covering MGM Resorts International (MGM) and their average rating on the stock is 1.27, which is read as a Strong Buy. 10 equity analysts believe that the stock has a bright future and the price doesnt capture all of its upside, hence they rate the stock as a Strong Buy. MGM Resorts International (MGM) also receives 2 more Buy recommendations from analysts who believe that the stock will do well going forward. A Zacks Investment Research rank of 3, which recommends a Hold affirms that they expect a large upside in the stock from the current levels. A total of 1 brokerage firms believe that the stock is fairly valued, hence they advise a Hold on the stock.


Also, Buckingham Research initiates coverage on MGM Resorts International (NYSE:MGM) . Analysts at the Buckingham Research have a current rating of Buy on the shares. The rating by the firm was issued on August 11, 2016.

MGM Resorts International (NYSE:MGM): During Thursdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $24.29 and $24.13 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $24.77. The buying momentum continued till the end and the stock did not give up its gains. It closed at $24.65, notching a gain of 3.18% for the day. The total traded volume was 9,785,701 . The stock had closed at $23.89 on the previous day.

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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