MGM Resorts (MGM) PT Raised to $38 at Stifel on 1Q Report; 'Vegas/Macau Trends Solid, We Still See Plenty of Upside'
Stifel raised its price target on MGM Resorts (NYSE: MGM) to $38.00 (from $35.00) while maintaining a Buy rating, following the company's first quarter earnings report.
Analyst Steven Wieczynski notes management experienced broad-based outperformance with Macau, Las Vegas Strip and Regional segments all reporting figures ahead of forecasts, fueling the company's revenue, EPS, EBITDA and EBITDA margin beats.