In a recent development, Truist analyst Barry Jonas has adjusted the price target for MGM Resorts (MGM, Financial), lowering it to $45 from the previous $50. Despite this reduction, the firm continues to maintain a Buy rating on the stock.
The decision to decrease the price target stems from ongoing uncertainties regarding tariffs, which have led to a reevaluation of coverage, reflecting diminished confidence in current estimates. However, Truist remains optimistic about the gaming industry as a whole, identifying it as one of the most promising sectors within a consumer market that shows mixed signals.
This assessment suggests that while MGM Resorts faces certain challenges, particularly related to tariff issues, its position within the gaming sector offers substantial potential for growth and opportunity.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 19 analysts, the average target price for MGM Resorts International (MGM, Financial) is $46.81 with a high estimate of $60.00 and a low estimate of $35.00. The average target implies an upside of 54.57% from the current price of $30.28. More detailed estimate data can be found on the MGM Resorts International (MGM) Forecast page.
Based on the consensus recommendation from 22 brokerage firms, MGM Resorts International's (MGM, Financial) average brokerage recommendation is currently 2.0, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for MGM Resorts International (MGM, Financial) in one year is $65.17, suggesting a upside of 115.22% from the current price of $30.28. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the MGM Resorts International (MGM) Summary page.
