Nomura Securities Maintains a 'Buy' on MGM Mirage (MGM); Shares Attractive After Recent Sell-off
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Price: $43.32 --0%
Rating Summary:
23 Buy, 15 Hold, 4 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 7 | New: 13
Rating Summary:
23 Buy, 15 Hold, 4 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 7 | New: 13
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Nomura Securities maintains a 'Buy' on MGM Mirage (NYSE: MGM).
Nomura analyst, Curtis, said, "Q2 results reinforce our positive thesis as both Las Vegas and Macau delivered stronger than recently raised estimates. MGM’s booking pace is up for summer and fall and 2012 booking pace is ahead of last year with rates up at least $10/night. In Macau, we expect continued modest growth as MGM will increase premium mass capacity soon. We increased our 2011E EBITDA to $1.643B from $1.377B and 2012E EBTIDA to $2.196B from $1.725B. Backing out MGM’s share of MGM China implies domestic stub is trading at ~7x our 2012 EBITA est. vs. recovery multiple of 9x-9.5x. With MGM down 24% in last week, we find current level attractive."
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 $11.54 yesterday.
Nomura analyst, Curtis, said, "Q2 results reinforce our positive thesis as both Las Vegas and Macau delivered stronger than recently raised estimates. MGM’s booking pace is up for summer and fall and 2012 booking pace is ahead of last year with rates up at least $10/night. In Macau, we expect continued modest growth as MGM will increase premium mass capacity soon. We increased our 2011E EBITDA to $1.643B from $1.377B and 2012E EBTIDA to $2.196B from $1.725B. Backing out MGM’s share of MGM China implies domestic stub is trading at ~7x our 2012 EBITA est. vs. recovery multiple of 9x-9.5x. With MGM down 24% in last week, we find current level attractive."
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 $11.54 yesterday.
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