MGM Resorts price target lowered to $40 from $50 at Argus

Argus lowered the firm’s price target on MGM Resorts (MGM) to $40 from $50 but keeps a Buy rating on the shares. The firm cites the company’s Q1 earnings declining from last year but still notes that improvement year to date at MGM’s Regional properties and Las Vegas Strip operations position MGM to benefit from strong demand in 2025, the analyst tells investors in a research note. Longer term, increased casino spending in Las Vegas, growing demand for sports betting in the U.S., and an agreement to build a location in Japan all bode well for MGM, Argus adds.