Citadel Securities Maintains an 'Add' on MGM Mirage (MGM); 2Q11 Results: Las Vegas Shows Some Life, While Macau Continues Unabated
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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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Citadel Securities maintains an 'Add' on MGM Mirage (NYSE: MGM), lowers price target from $16 to $15.
Citadel analyst says, "The consolidation of MGM China required numerous changes to our model – rendering some line items now not directly comparable to previous versions (details provided herein). Net of these changes, and modeling for ongoing fundamental improvements in both Macau and the U.S., our new estimates are as follows: For 2011, our EPS and EBITDA estimates are now $(0.62) (from $(0.61)) and $1.61B (from $1.34B). In 2012 and 2013, we now expect EPS of $(0.54) and $(0.36) (from $(0.36) and $(0.12), respectively) and EBITDA of $2.11B and $2.35B (from $1.51B and $1.68B, respectively)."
"...at current levels, we still see the potential for 34% upside in the shares and we are maintaining our Add rating on MGM shares at this time."
"As such, at current levels, we still see the potential for 34% upside in the shares and we are maintaining our Add rating on MGM shares at this time."
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 $11.18 yesterday.
Citadel analyst says, "The consolidation of MGM China required numerous changes to our model – rendering some line items now not directly comparable to previous versions (details provided herein). Net of these changes, and modeling for ongoing fundamental improvements in both Macau and the U.S., our new estimates are as follows: For 2011, our EPS and EBITDA estimates are now $(0.62) (from $(0.61)) and $1.61B (from $1.34B). In 2012 and 2013, we now expect EPS of $(0.54) and $(0.36) (from $(0.36) and $(0.12), respectively) and EBITDA of $2.11B and $2.35B (from $1.51B and $1.68B, respectively)."
"...at current levels, we still see the potential for 34% upside in the shares and we are maintaining our Add rating on MGM shares at this time."
"As such, at current levels, we still see the potential for 34% upside in the shares and we are maintaining our Add rating on MGM shares at this time."
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 $11.18 yesterday.
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