MGM Resorts International’s
He maintained a Buy rating on MGM Resorts, while raising the price target from $32 to $33.
Terming MGM Resorts as the “Best idea in large cap gaming,” Santarelli mentioned that the share price performance had been “underwhelming” and could appreciate going ahead. He added, “While MGM's Macau exposure is limited, we think, given strong domestic fundamentals and its dramatically cheaper valuation, MGM could emerge as a lower risk way to garner Macau exposure.”
“We believe the Strip had a fairly solid October, though recall, October and November comps are very challenging. CONAG takes place in the 1Q17, thus, a good start to the year is expected,” the analyst commented.
|Oct 2016||Argus Research||Upgrades||Hold||Buy|
|Aug 2016||Buckingham Research||Initiates Coverage on||Buy|
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.