MGM Resorts International (MGM) stock surged 12.89% in the pre-market trading session on Thursday, following the company's impressive fourth-quarter 2024 earnings report and optimistic outlook for 2025.

The key drivers behind MGM's pre-market rally were its strong performance across multiple segments, including:

• Record revenues, domestic slot win, hotel revenue, and food & beverage revenue for 2024.
• Robust growth in its digital business, BetMGM, with net revenue from operations exceeding $2 billion and expected to grow to $2.4 billion to $2.5 billion in 2025.
• Impressive performance in Macau, where MGM China achieved its best-ever full-year segment adjusted EBITDAR and gained significant market share.
• Solid performance in Las Vegas, driven by strategic investments in renovations and brand integrations, coupled with strong future bookings.

Analysts praised MGM's resilient performance, with several brokerages raising their price targets on the stock. Citi lifted its target to $50 from $48, citing the company's better-than-expected prospects in the U.S. operations. Stifel raised its target to $50 from $47, highlighting MGM's strong bookings and undervalued free cash flow generation and development pipeline.