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Investing.com - Stifel has reduced its price target on MGM Resorts (NYSE:MGM) to $45.00 from $47.00 while maintaining a Buy rating on the stock. MGM currently trades at $31.21, significantly below both Stifel’s target and the stock’s 52-week high of $42.07, according to InvestingPro data.
The research firm cited weakness in Las Vegas operations as the primary reason for the adjustment, though it noted this summer softness should have been anticipated by the market.
Stifel indicated that while forward leisure demand appears encouraging, investors may remain cautious until several months of improved performance materialize in the Las Vegas market.
The firm emphasized that MGM’s diverse operating platform provides significant value, with regional casinos, Macau operations, and digital gaming all performing strongly despite Las Vegas softness. InvestingPro data shows MGM remains profitable with a diluted EPS of $1.84 over the last twelve months, and analysts forecast EPS of $2.49 for fiscal year 2025.
Stifel suggested the current share price presents a compelling risk/reward opportunity for patient investors, arguing the market reaction appears disproportionately negative compared to the temporary nature of the Las Vegas market correction. This assessment aligns with InvestingPro’s Fair Value analysis, which indicates MGM is currently undervalued. InvestingPro Tips also reveal management has been aggressively buying back shares, suggesting internal confidence in the company’s outlook. For comprehensive analysis of MGM and 1,400+ other stocks, explore InvestingPro’s detailed research reports.
In other recent news, MGM Resorts International reported its third-quarter 2025 earnings, revealing a significant miss on earnings per share (EPS). The company posted an EPS of $0.24, which fell short of the forecasted $0.39. Despite this EPS miss, MGM’s revenue slightly exceeded projections, reaching $4.3 billion against a forecast of $4.25 billion. Mizuho has raised its price target for MGM Resorts to $62 from $58, maintaining an Outperform rating, even though the Las Vegas EBITDA figures of $601 million were below expectations. In contrast, Goldman Sachs lowered its price target to $31 while maintaining a Sell rating, citing "mixed" third-quarter results. Both firms highlighted discrepancies in Las Vegas EBITDAR, with Goldman Sachs noting a shortfall of approximately $50 million below forecasts. These developments reflect the varied analyst perspectives on MGM Resorts’ financial performance and future potential.
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