Nomura Securities Maintains a 'Buy' on MGM Resorts (MGM); Q1 First Look - Modest Miss
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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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Nomura Securities maintains a 'Buy' on MGM Resorts (NYSE: MGM) price target of $16.00.
Analyst, Harry C. Curtis, said, "Adjusting for hold, we believe Q1 Adj. net EBITDA was closer to ~$454M; so roughly an in-line quarter...We expect the company to make more positive RevPAR comments for Q2. However, our forward pricing survey indicates that while Q2 is improving sequentially, we won’t characterize the quarter as “gangbusters.” On the call, we expect the company to focus on 2013 booking pace, which we believe is meaningfully stronger than 2012."
Not too much near-term earnings effect, but longer-term constuctive on shares as Las Vegas accelerates...important catalyst is approval of Cotai land application in next 6 months.
For an analyst ratings summary and ratings history on MGM Resorts click here. For more ratings news on MGM Resorts click here.
Shares of MGM Resorts closed at $13.55 yesterday.
Analyst, Harry C. Curtis, said, "Adjusting for hold, we believe Q1 Adj. net EBITDA was closer to ~$454M; so roughly an in-line quarter...We expect the company to make more positive RevPAR comments for Q2. However, our forward pricing survey indicates that while Q2 is improving sequentially, we won’t characterize the quarter as “gangbusters.” On the call, we expect the company to focus on 2013 booking pace, which we believe is meaningfully stronger than 2012."
Not too much near-term earnings effect, but longer-term constuctive on shares as Las Vegas accelerates...important catalyst is approval of Cotai land application in next 6 months.
For an analyst ratings summary and ratings history on MGM Resorts click here. For more ratings news on MGM Resorts click here.
Shares of MGM Resorts closed at $13.55 yesterday.
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