Nomura Securities Reiterates a 'Buy' on MGM Mirage (MGM); Review of 1Q Earnings
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Price: $44.10 +0.07%
Rating Summary:
23 Buy, 15 Hold, 4 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
23 Buy, 15 Hold, 4 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Nomura Securities reiterates a 'Buy' on MGM Mirage (NYSE: MGM), PT increased from $18 to $19.
Nomura analyst, Harry Curtis, says, "Results reflected higher RevPAR (+16% or if excl. resort fee +11%) and discretionary spending (F&B revs up 7% y/y and entertainment, retail and other revs up 4% y/y). MGM also noted domestic high end play is beginning to improve. We expect the positive 1Q Las Vegas and Macau trends to continue, with the Q2 outlook better than current consensus thinking. We are raising our 2011-13 Macau est as we expect continued improvement in all 3 gaming segments: VIP, mass and slot. For MGM, we increase our 2012 net EBITDA estimate to $1.7B vs. prior $1.67B estimate, while our 2013 estimate is now $2.05B vs. prior $2B estimate."
For more ratings news on MGM Mirage click here and for the rating history of MGM Mirage click here.
Shares of MGM Mirage closed at $14.22 yesterday.
Nomura analyst, Harry Curtis, says, "Results reflected higher RevPAR (+16% or if excl. resort fee +11%) and discretionary spending (F&B revs up 7% y/y and entertainment, retail and other revs up 4% y/y). MGM also noted domestic high end play is beginning to improve. We expect the positive 1Q Las Vegas and Macau trends to continue, with the Q2 outlook better than current consensus thinking. We are raising our 2011-13 Macau est as we expect continued improvement in all 3 gaming segments: VIP, mass and slot. For MGM, we increase our 2012 net EBITDA estimate to $1.7B vs. prior $1.67B estimate, while our 2013 estimate is now $2.05B vs. prior $2B estimate."
For more ratings news on MGM Mirage click here and for the rating history of MGM Mirage click here.
Shares of MGM Mirage closed at $14.22 yesterday.
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