UBS analyst Robin Farley raised the firm’s price target on MGM Resorts (MGM) to $44 from $42 and keeps a Neutral rating on the shares. The firm increased estimates for Macau to reflect updated property performance trends. Premium mass operators deserve a valuation re-rating versus base mass operators since the latter are challenged by the macro environment in China, making premium operators better positioned, the analyst tells investors in a research note.
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