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Investing.com - Mizuho has raised its price target on MGM Resorts (NYSE:MGM) to $62.00 from $58.00 while maintaining an Outperform rating on the stock. The new target represents nearly 100% upside from MGM’s current trading price of $31.21. According to InvestingPro data, MGM appears undervalued based on its Fair Value assessment, with analyst targets ranging from $32 to $58.
The firm’s adjustment comes despite Las Vegas EBITDA figures falling below expectations, with MGM reporting $601 million versus Mizuho’s projection of $630 million.
Mizuho noted this shortfall was particularly significant as their estimates had already been reduced mid-quarter and were on the lower end of overall Street expectations.
The company benefited from $23 million in Business Interruption insurance during the quarter, which was not included in analyst or Street estimates, partially offsetting the earnings disappointment.
This insurance benefit was partially reduced by $13 million in one-time compensation headwinds, resulting in a net benefit of approximately $10 million for the quarter.
In other recent news, MGM Resorts International reported its third-quarter 2025 earnings, revealing a significant miss on earnings per share (EPS) compared to analyst expectations. The company posted an EPS of $0.24, falling short of the anticipated $0.39, marking a 38.46% negative surprise. Despite the EPS miss, MGM Resorts’ revenue slightly exceeded projections, reaching $4.3 billion against a forecast of $4.25 billion. This revenue performance provided a small positive note amid the earnings disappointment. Analysts from various firms had expected better results, but the revenue outcome offered some reassurance. These developments are part of recent trends affecting MGM Resorts. Investors continue to monitor how the company will address these challenges in upcoming quarters.
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