Casino Stocks Surging as Analyst Sentiment Improving (MGM, MPEL, LVS, WYNN)

April 5, 2010 1:39 PM EDT
Get Alerts MGM Hot Sheet
Price: $28.62 --0%

Rating Summary:
    29 Buy, 3 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 0 | Down: 0 | New: 0
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Casino & Gaming stocks are trading noticeably higher today as several bullish analyst calls are causing investors to take another look at the group.
  • Goldman Sachs reiterated a Buy rating and $14.50 price target on shares of MGM Mirage (NYSE: MGM) this morning, saying that owning the stock "allows portfolio managers to participate in the consumer and business travel recovery along with the company‚Äôs own improving corporate finance story."
  • JPMorgan upgraded Melco Crown Entertainment (Nasdaq: MPEL) from Neutral to Overweight and also boosted its price target on the stock from $5 to $7.
Shares of MGM Mirage and MPEL are now both up 7% from Thursday's closing price. MGM shares last traded at $12.89 while shares of Melco Crown last traded at $4.99. Elsewhere in the sector: Las Vegas Sands (NYSE: LVS) shares are up almost 8% to around $22.97 and shares of Wynn Resorts (Nasdaq: WYNN) are up 5.3% to $81.48.

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