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Stifel lowers near-term expectations on MGM Resorts

Published 10/18/2017, 08:35 AM
© Reuters.  Stifel lowers near-term expectations on MGM Resorts
MGM
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  • Stifel Nicolaus downgrades MGM Resorts (NYSE:MGM) to Hold from Buy as it takes near-term EPS expectations lower.
  • On a longer time horizon, the investment firm thinks that MGM's bottom line will see the benefits of the new Macau Cotai and Springfield, MA properties as well as improved Strip margins.
  • Stifel's price target on MGM is dropped to $33 from $38. The stock is also removed from its "Stifel Select List."
  • MGM -0.79% premarket to $30.25. Shares are down about 4.6% since the mass shooting incident on the Las Vegas Strip.
  • Now read: It's Time To Wynn


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