MGM Resorts International

MGM · NYSE

$28.90+$0.43 (+1.51%)TodayMarket closed · Oct 20, 7:48 PM ET

Prev close $28.47

MGM analyst rating

HoldConsensus of 15 analysts over the last 12 months. 47% rate it a buy.

Strong buy0
Buy7
Hold7
Underperform1
Sell0

12-month price target · 24 analysts

Average $49.66 (+71.8% upside)

Low: $39.39
Now: $28.90
High: $59.85

Upgrades and downgrades

The latest rating actions, newest first

MGM analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
JP Morgan	Oct 20, 2026	Maintains	Overweight	$53.00 → $42.00	48%
Stifel	Oct 20, 2026	Maintains	Hold	$49.00 → $40.00	53%
Truist Securities	Oct 20, 2026	Maintains	Buy	$55.00 → $45.00	39%
Morgan Stanley	Oct 19, 2026	Maintains	Underweight	$43.00 → $29.00	58%
Wells Fargo	Oct 19, 2026	Maintains	Equal-Weight	$48.30 → $29.00	33%
Macquarie	Oct 13, 2026	Maintains	Outperform	$48.00	40%
Citigroup	Oct 12, 2026	Maintains	Neutral	$48.00 → $32.00	44%
Barclays	Oct 9, 2026	Maintains	Equal-Weight	$48.00 → $37.00	46%
Susquehanna	Oct 8, 2026	Maintains	Positive	$46.00 → $41.00	50%
Macquarie	Oct 7, 2026	Maintains	Outperform	$55.00 → $48.00	40%

The case for and against

Updated Oct 14, 2026

Bull case

MGM Resorts International is well positioned by its dominant Las Vegas footprint, with 37,000 rooms and suites and a portfolio that includes Bellagio, MGM Grand, Mandalay Bay, Park MGM, Luxor, and New York-New York, while the Strip contributed approximately 56% of total EBITDAR in 2025. Recent results reinforce that strength, as solid group and convention demand, record Q1 convention ADRs, and a completed MGM Grand renovation helped drive resilient Vegas profitability and management expects full-year LV EBITDA to grow on a normalized basis versus last year. Beyond Las Vegas, the company benefits from diversified earnings streams in US regional assets, MGM China, and high-single-digit revenue from sports and i-gaming, with further optionality from a Japan resort expected in 2030.

Bear case

MGM Resorts International is viewed negatively because its share price already embeds meaningful skepticism while the underlying business still faces structurally thin profitability and heavy dependence on Las Vegas, which produced about 56% of 2025 EBITDAR. Q1 showed the fragility of that mix: Adj. Property EBITDAR of about $1.3 billion missed estimates, margins fell to roughly 29%, Regional EBITDAR declined 7% on one-timers, and MGM China EBITDAR was down 4% as the new brand fee weighed on results. Even with improving digital leverage and a valuable asset base, the stock’s low multiple reflects macro, competitive, and OpCo-discount risks that leave limited margin for error.

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