FBR Capital Starts MGM Mirage (MGM) at Outperform; U.S. Group Travel Booking Trends Encouraging
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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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FBR Capital initiates coverage on MGM Mirage (NYSE: MGM) with an Outperform. PT $17.
FBR analyst says, "We see Las Vegas visitation as recovering moderately, driven primarily by the return of conventions and, to a lesser extent, leisure travelers. At approximately 9x estimated 2012 EBITDA, we find the valuation reasonably attractive. MGM shares are down nearly 25% from highs earlier in the year, and we believe this pullback represents an ideal time to assume or increase positions in the stock."
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 $12.46 yesterday.
FBR analyst says, "We see Las Vegas visitation as recovering moderately, driven primarily by the return of conventions and, to a lesser extent, leisure travelers. At approximately 9x estimated 2012 EBITDA, we find the valuation reasonably attractive. MGM shares are down nearly 25% from highs earlier in the year, and we believe this pullback represents an ideal time to assume or increase positions in the stock."
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 $12.46 yesterday.
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