Fly News Breaks for October 16, 2019
Oct 16, 2019 | 08:19 EDT
Morgan Stanley analyst Thomas Allen said MGM Resorts' (MGM) sale-leaseback of Bellagio in a deal with Blackstone (BX) and its sale of Circus-Circus to an affiliate of Treasure Island owner Phil Ruffin came at higher multiples than he expected, prompting him to raise his price target on MGM shares to $32 from $31. However, Allen keeps an Equal Weight rating on MGM shares, citing his concerns around Las Vegas risk in Q4 and questions about the achievability of its 2020 targets.
News For MGM From the Last 2 Days