MGM Resorts downgraded to Hold from Buy at Truist

Truist downgraded MGM Resorts (MGM) to Hold from Buy with a price target of $38, down from $45. The firm says that despite the stock’s “undemanding valuation,” its estimates for MGM are below consensus as thinks “it may be too soon to confidently call a return to growth in 2026.” The shares “tend to pivot to Strip performance” and there could be downside to consensus estimates given continuing leisure consumer weakness, the analyst tells investors in a research note.