Goldman Sachs Still Positive on MGM (MGM), But Downgrades on Valuation
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Price: $41.31 -0.31%
Rating Summary:
23 Buy, 15 Hold, 4 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 5 | Down: 17 | New: 22
Rating Summary:
23 Buy, 15 Hold, 4 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 5 | Down: 17 | New: 22
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Goldman Sachs downgraded MGM Resorts (NYSE: MGM) from Buy to Neutral purely on valuation as the stock nears their $14.50 price target.
The firm continues to believe in MGM's long-term story based on a Las Vegas strip recovery and expects the company to make progress in restructuring its balance sheet. In fact, Goldman said they are so confident in the outlook for the company that they are taking management to visit investors later this month. That said, with shares up 38% year-to-date, they are moving to a more balanced view.
The firm continues to believe in MGM's long-term story based on a Las Vegas strip recovery and expects the company to make progress in restructuring its balance sheet. In fact, Goldman said they are so confident in the outlook for the company that they are taking management to visit investors later this month. That said, with shares up 38% year-to-date, they are moving to a more balanced view.
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