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2021-10-13

Credit Suisse Upgrades MGM Resorts After These 4 Transactions

The market does not seem to be giving enough credit to MGM Resorts International’s (NYSE: MGM) trans

Credit Suisse Upgrades MGM Resorts After These 4 Transactions

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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nCredit Suisse Upgrades MGM Resorts After These 4 Transactions\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-10-13 13:23 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/credit-suisse-upgrades-mgm-resorts-191006460.html><strong>Benzinga</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The market does not seem to be giving enough credit to MGM Resorts International’s (NYSE: MGM) transformation and the company’s recent announcements, according to Credit Suisse.\nThe MGM Resorts ...</p>\n\n<a href=\"https://finance.yahoo.com/news/credit-suisse-upgrades-mgm-resorts-191006460.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"MGM":"美高梅"},"source_url":"https://finance.yahoo.com/news/credit-suisse-upgrades-mgm-resorts-191006460.html","is_english":true,"share_image_url":"https://static.laohu8.com/5f26f4a48f9cb3e29be4d71d3ba8c038","article_id":"2175137089","content_text":"The market does not seem to be giving enough credit to MGM Resorts International’s (NYSE: MGM) transformation and the company’s recent announcements, according to Credit Suisse.\nThe MGM Resorts Analyst: Benjamin Chaiken upgraded MGM Resorts International from Neutral to Outperform and raised the price target from $33 to $68.\nThe MGM Resorts Thesis: The company is now a cleaner and more simplified organization, with a more attractive capital structure, Chaiken said in the upgrade note.\nThe analyst mentioned MGM Resorts International’s four latest transactions:\n\nThe sale of its 42% stake in MGM Growth Properties LLC (NYSE: MGP) for $4.4 billion, which is a major deleveraging event.\nConsolidating the operations of City Center, which was not getting full value.\nThe sale-leaseback of its property in Springfield, which was also a deleveraging event.\nPurchase of the operations of Cosmopolitan in Las Vegas.\n\nChaiken projected the EBITDAR and earnings for 2021 and 2022 at $2.2 billion and $3.4 billion and at negative 35 cents per share and $1.79 per share, respectively.\nMGM Price Action: Shares of MGM Resorts International were trading 8.51% higher at $48.20 late in the final hour of Tuesday's trading session.\nLatest Ratings for MGM\n\n\n\nDate\nFirm\nAction\nFrom\nTo\n\n\n\n\nOct 2021\nCredit Suisse\nUpgrades\nNeutral\nOutperform\n\n\nOct 2021\nSusquehanna\nDowngrades\nNeutral\nNegative\n\n\nSep 2021\nWells Fargo\nInitiates Coverage On\n\nOverweight","news_type":1},"isVote":1,"tweetType":1,"viewCount":342,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"CN","currentLanguage":"CN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"upFlag":false,"length":1,"xxTargetLangEnum":"ZH_CN"},"commentList":[],"hasMoreComment":false,"orderType":2}