JPMorgan analyst Joseph Greff has a favorable view of both MGM Resorts (MGM) and MGM Growth Properties (MGP) as it relates to the purchase of MGM National Harbor's real estate for $1.1875B. For MGM Growth, the deal is accretive and represents a good valuation multiple, Greff tells investors in a research note. He upped his price target for the shares to $33 from $31. For MGM, the transaction improves the balance sheet and helps accelerate the return of capital via a $1B share repurchase authorization, the analyst writes. He upped his price target for those shares to $39 from $37. He keeps Overweight ratings on both stocks.