Nomura Securities Maintains a 'Buy' on MGM Mirage (MGM); See More Upside

Nomura Securities maintains a 'Buy' on MGM Mirage (NYSE: MGM), PT raised $1 to $20.

Nomura analyst, Harry Curtis, said, "Despite rallying ~17% from the most recent trough on 6/20, we still see ~43% upside for MGM in the next 12 months. We increased our 2011E operating EPS to $(0.59) from $(0.62), 2012E to $(0.08) from $(0.12), and 2013E to $0.38 from $0.36, and our target price to $20. Our proprietary Las Vegas rate survey is showing pricing strength in Q3 (contrary to Street concerns) and MGM Grand Macau continues to show improvement. With Las Vegas rates continuing an uptrend and strength in Macau, we believe MGM is compelling at current valuation."

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 $13.97 yesterday.

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