MGM Resorts International (MGM) shares were up nearly 18% on Thursday, after several analysts adjusted price targets following its Q4 top-line and bottom-line results that came ahead of consensus.
Citigroup raised its target to $50 from $48, Seaport Global Securities raised its price target to $48 from $46, and Mizuho raised its price target to $60 from $56. Wells Fargo raised its price target to $46 from $44, Barclays increased it to $47 From $45, Jefferies raised it to $53 from $50, and Stifel increased it to $50 from $47.
On the other hand, Deutsche Bank adjusted its price target to $48 from $49 and HSBC adjusted it to $48 From $50.
All the analysts maintained their respective ratings.
On Wednesday, MGM reported Q4 adjusted earnings of $0.45 per share, down from $1.06 a year ago, but ahead of FactSet consensus of $0.32. Revenue was $4.35 billion, beating estimates of $4.27 billion.
Almost 11 million shares were trading recently, compared to average volume of a little over 4 million.
Price: 40.53, Change: +6.16, Percent Change: +17.92
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