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Fly News Breaks for July 15, 2015
MGM
Jul 15, 2015 | 08:26 EDT
Stifel believes that investors have been overly concerned about the impact of Macau's difficulties on MGM, while the stock's current value fails to reflect strengthening Las Vegas Strip trends. The firm also believes that the stock price does not reflect the company's cost cutting in Las Vegas , its diverse pipeline, and its growing focus on obtaining value from its real estate. Stifel thinks there is a good chance that the company will announce some kind of strategic initiative during its Q3 earnings call. Stifel keeps a $26 price target and Buy rating on the shares.
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