Cantor Fitzgerald Starts MGM Resorts (MGM) at Buy; Continued Deleveraging; Las Vegas Bouncing Back

July 9, 2012 5:12 PM EDT
Get Alerts MGM Hot Sheet
Price: $28.74 +0.17%

Rating Summary:
    29 Buy, 3 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 30 | Down: 30 | New: 23
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Cantor Fitzgerald initiates coverage on MGM Resorts (NYSE: MGM) with a Buy. PT $14.00.

Analyst, Robert LaFleur, said, "We see this as an opportunistic entry point for the shares given the overreaction to slowing gaming revenues in Macau and the ongoing sluggishness in Macau...In our opinion, the recent sell-off over-interprets the softening of revenue growth rates in Macau. Growing prosperity in China remains a long-term secular trend that should continue to benefit MGM and the other Macau operators."

For an analyst ratings summary and ratings history on MGM Resorts click here. For more ratings news on MGM Resorts click here.

Shares of MGM Resorts closed at $10.83 yesterday.

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