MGM Resorts (MGM) PT Raised to $53 at Jefferies

Jefferies analyst David Katz raised the price target on MGM Resorts (NYSE: MGM) to $53.00 (from $50.00) while maintaining a Buy rating.

The analyst commented, "Our takeaways from the quarter are overall positive with recovery accelerating in Las Vegas, better than expected margins across domestic markets, and rapid growth in digital. While timing of recovery in Macau and further redemption of MGP units remain open matters and prospective catalysts, we believe the performance and capital allocation strategies should push valuation higher. Reiterate Buy."

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