MGM Resorts price target lowered to $45 from $47 at Stifel

Stifel lowered the firm’s price target on MGM Resorts (MGM) to $45 from $47 and keeps a Buy rating on the shares. While MGM’s Vegas results were “nothing to write home about,” the summer “weakness” should have been well telegraphed by now and properly priced into shares, argues the analyst, who adds “Guess that’s not the case though.” Things might not improve overnight, but the firm sees owning shares of MGM at current levels as “an overly compelling risk/reward” for the patient investor, the analyst added.