Goldman Sachs Boosts Price Target on MGM (MGM) On Robust 2012 Travel Outlook

Goldman Sachs raised its price target on Buy-rated MGM Resorts (NYSE: MGM) Monday from $13 to $14.50 citing increased confidence in the travel outlook for 2012.

"We continue to believe that travel trends have the potential to surprise to the upside as both the leisure and corporate traveler are showing surprising resilience," Goldman's analyst said.

MGM is one of the primary beneficiaries of the turn in the Las Vegas, the firm notes. In Vegas, Goldman sees 2012 revenue growth of 5% and EBITDA growth of 11%.

For an analyst ratings summary and ratings history on MGM Mirage click here. For more ratings news on MGM Mirage click here.

Shares of MGM Mirage closed at $13.19 yesterday.

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