MGM Resorts surged more than 7% in morning trading as MGM Resorts upgraded to outperform from neutral at Credit Suisse, price target $68.
New casino operations and a healthy cash flow should help boost MGM Resorts in the year ahead, according to Credit Suisse.
Analyst Benjamin Chaiken upgraded the stock to outperform from neutral, saying Tuesday in a note to clients that the company deserves a second look from investors.
Credit Suisse raised its price target for MGM to $68 per share from $33 per share. The new target is 53% above where the stock closed Monday.