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Cantor Fitzgerald Raises PT on MGM (MGM), Expects Momentum to Continue

March 7, 2013 10:14 AM EST Send to a Friend
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Price: $23.96 --0%

Rating Summary:
    21 Buy, 8 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 0 | Down: 0 | New: 0
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Cantor Fitzgerald today maintained a Buy rating on MGM Resorts (NYSE: MGM) and raised its price target to $14.50 (from $12.00). Analyst Robert LaFleur said they expect momentum in the stock to continue.

“MGM shares are up 36% since they bottomed out at $9 in early August last year. Over that period, the grinding Las Vegas recovery has continued and Macau has become an increasingly relevant part of the MGM story, particularly now that MGM has begun construction on its recently approved Cotai project. Despite this impressive rebound, we think MGM shares have additional upside,” said LaFleur.

For an analyst ratings summary and ratings history on MGM Resorts (NYSE: MGM) click here. For more ratings news on MGM Resorts click here.

Shares of MGM Resorts closed at $12.21 yesterday.




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