Morgan Stanley raised the firm’s price target on MGM Resorts (MGM) to $37 from $36 and keeps an Equal Weight rating on the shares. The firm raised estimates “modestly across the board” for its Gaming & Lodging coverage to reflect better Q1 results and roughly in-line guidance expectations and mark-to-market adjustments for higher multiples. Discounted valuations among the group suggest the market “still remains pessimistic near-term,” adds the analyst.
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- MGM Resorts announces new employment agreement with CEO Bill Hornbuckle
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