Replies to post #1893 on MGM Resorts International (MGM)

[eastunder]

MGM (MGM) Shares Outperform Following Credit Suisse Upgrade

January 18, 2012 12:14 PM EST

An earlier upgrade on shares of MGM Resorts (NYSE: MGM) may be giving legs to the rest of the Casino & Gaming sector Wednesday afternoon.

Credit Suisse's Joel Simkins lifted his investment rating on the stock from Underperform to Neutral this morning, also boosting his price target from $10 to $13.

The analyst cited improvements on the Vegas strip, likely upcoming updates on the timing of the Cotai land approvals, and a possible dividend from the company's Macau segment.