UBS analyst Robin Farley lowered the firm’s price target on MGM Resorts (MGM) to $39 from $44 and keeps a Neutral rating on the shares. While the company recently noted that Q3 in Vegas was shaping up to look a lot like Q2, the firm’s closer look suggests a “worse underlying trend”, the analyst tells investors in a research note.
Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on MGM:
- Cautious Outlook for MGM Resorts Amidst Declining EBITDA and Stagnant Convention Business
- Sector Spotlight: Sportsbooks look to rebound from historically bad year
- MGM Resorts put volume heavy and directionally bearish
- MGM Resorts COO Corey Sanders to Retire Soon
- MGM Resorts COO Corey Sanders to retire