BUZZ-Truist cuts PT on MGM Resorts International
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Truist Securities has lowered its price target on MGM Resorts International from $47 to $45, indicating a 23.3% upside from the stock's last close. The brokerage cites weaker-than-expected trends on the Las Vegas Strip, with November revenue down 1% year-over-year. Slot revenue increased by 5.5%, but table game revenue fell by 7%. Visitation also dropped by 5% year-over-year. Currently, 15 out of 25 brokerages rate MGM as a "buy" or higher, with a median price target of $45. Over the past 12 months, MGM's stock has risen by 8.4%.
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