MGM Resorts initiated with a Buy at BTIG

BTIG analyst Clark Lampen initiated coverage of MGM Resorts with a Buy rating and $52 price target, citing the company’s “attractive” fundamental story along with a “favorable” risk/reward and mixed investor sentiment on the stock. Las Vegas and China, as well as healthy capital returns with possible kickers from China dividends or Regionals property sales, position the company well for upward estimate revisions in the near term, the analyst tells investors in a research note. BTIG adds that the Street isn’t paying enough attention to the Outside U.S. MGM Digital story unfolding within the Management and Other Ops line.