Two analyst upgrades drive MGM shares above a buy point as Las Vegas travel demand shows resilience and growth prospects improve.
MGM Resorts International (MGM) climbed above a buy point Wednesday after JPMorgan Chase analysts upgraded the stock, citing stronger Las Vegas trends. The move made MGM the top performer in the S&P 500 for the session.
Analysts noted that growth should accelerate in the coming months due to easier comparisons and sustained U.S. leisure travel demand. The upgrade follows recent data showing mixed performance in Macau gaming revenue, which rose 14.8% year-over-year in December but missed expectations.
Shares of MGM and peers like Las Vegas Sands and Wynn Resorts remain in focus as investors assess recovery momentum in key gaming markets.