MGM Resorts Surges on Analyst Upgrades and Vegas Recovery
MGM Resorts International stock price surged after multiple analysts upgraded the company due to its strong prospects in the Las Vegas market. Analysts' upgrades included JPMorgan, which set a target price of $46 for MGM Resorts and predicted 20% upside. Meanwhile, Truist Financial upgraded MGM Resorts to 'Buy' with a target price of $55.
Several analysts upgraded their ratings for MGM Resorts International (MGM) on May 27, citing the company's improved prospects in the Las Vegas market . Specifically, Truist Financial upgraded the stock to 'Buy' with a target price of $55 .
JPMorgan, another major bank, upgraded MGM's rating to 'overweight' with a target price of $46, and predicted a 20% upside in the shares, driven by Las Vegas rebounding demand.
The upgrades reflect optimism about the Las Vegas Strip's potential for growth and the company's ability to recover from the recent downturn.
Investors have taken notice of the upgrades, driving the stock price up.
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