MGM Resorts International (MGM: NYE) is gearing up to potentially deliver impressive Q4 results, boosted by a surge in its website traffic. This significant increase in online traffic is an indication of a revival in interest, signaling solid confidence in the company’s offerings.
Stock Target Advisor Say About MGM Resorts:
Stock Target Advisor ascribes a ‘Sell’ rating to MGM Resorts, based on its sophisticated algorithm. These experts peg the target price for MGM Resorts at USD 49.44, with an overwhelmingly positive average rating of ‘Strong Buy’. As of the last trading session, the company closed its stock price at USD 45.66, giving investors cause for optimism reflected in positive signals such as notable free cash flow and solid return on assets.
Six market analysts provided coverage on MGM Resorts, with the consensus tilting strongly towards a ‘Buy’. The average target price across these analysts fits in with the previously mentioned price target of USD 49.44.
While the overall sector analysis for the ‘Gold‘ sector is not overly favorable, indicating an average analyst rating and negative short-term returns, MGM Resorts’ solid performance appears to buck the sector trends.
Conclusion:
MGM Resorts’ stock is poised for an upbeat Q4 print as indicated by the surge in website traffic. The increased interest in the company’s offerings highlights its ability to adapt and engage with customers through virtual platforms. Investors and industry observers eagerly await the official financial report to gauge the company’s success in navigating the challenges brought about by the pandemic.
Muzzammil is a content writer at Stock Target Advisor. He has been writing stock news and analysis at Stock Target Advisor since 2023 and has worked in the financial domain in various roles since 2020. He has previously worked on an equity research firm that analyzed companies listed on the stock markets in the U.S. and Canada and performed fundamental and qualitative analyses of management strength, business strategy, and product/services forecast as indicated by major brokers covering the stock.
