- Credit Suisse analyst Benjamin Chaiken upgraded MGM Resorts International MGM to Outperform from Neutral and hiked the price target to $68 from $33, suggesting a 52.77% upside.
- The company has "gone through a transformation," recently announcing four transactions that the market is not giving it full credit for, Chaiken notes.
- Chaiken now sees MGM as a "cleaner more simplified organization" with a more attractive capital structure and believes MGM can beat consensus estimates.
- Price Action: MGM shares are trading higher by 2.21% at $45.40 in premarket on the last check Tuesday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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