MGM Resorts price target raised to $50 from $47 at Stifel

Stifel raised the firm’s price target on MGM Resorts (MGM) to $50 from $47 and keeps a Buy rating on the shares following the Q4 report. The firm says one of the recent knocks on the MGM story has been how would the company be able to grow against difficult comparisons on the Las Vegas Strip, especially in Q1. MGM did an “excellent job” of explaining how it expects to grow this year and moving forward in Las Vegas and with January being a record-setting month for the company, so some of the comparison fears could slowly start to evaporate, the analyst tells investors in a research note. Stifel believes MGM’s free cash flow generation and development pipeline “continue to get ignored/overlooked.”