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Fly News Breaks for September 16, 2016
MGM
Sep 16, 2016 | 08:23 EDT
Gabelli analyst Adam Trivison reiterated MGM Resorts as a best idea following recent management meetings. The analyst has confidence in MGM's outlook and estimates driven by a strong Las Vegas convention business, new property openings, management's $400M Profit Growth Plan. Trivison views MGM shares as undervalued and said the core business is trading at a 7x his 2017 EBITDA estimate. The analyst rates MGM Resorts a Buy with a $39 price target on shares.
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