MGM Resorts price target lowered to $50 from $54 at Truist

Truist analyst Barry Jonas lowered the firm’s price target on MGM Resorts (MGM) to $50 from $54 and keeps a Buy rating on the shares as part of a 2025 outlook for the gaming sector. Outside of acquisition-related outperformance, 2024 was a challenging year for gaming stocks, the analyst tells investors in a research note. The firm says the rate environment remained volatile and stable fundamentals “weren’t enough to overcome lingering macro fears.” For 2025, Truist expects more of the same around the macro, but says “trough valuations could improve on any signs of life for fundamentals.”