Barclays lowers MGM Resorts stock price target to $37 on Vegas challenges

Barclays has reduced its price target for MGM Resorts (NYSE:MGM) to $37 from $38, while maintaining an Equalweight rating, citing challenges in its Las Vegas operations despite strong Macau and digital business performance. This adjustment follows MGM’s fourth-quarter revenue beat, which was largely attributed to a high hold percentage rather than fundamental business growth. Other analysts like Goldman Sachs and Stifel have also recently updated their price targets for MGM, reflecting mixed outlooks on the company’s future performance.