MGM Resorts International
MGM: XNYS (USA)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
$39.00 | Xjt | Bqrfjpsk |
MGM Resorts Earnings: Vegas and Macao Strength Offset US Digital Weakness; Shares Undervalued
No-moat MGM Resorts' first quarter showcased solid Vegas and Macao results, offsetting near-term weakness in the US digital business due to incremental competition and a product under construction. We don’t expect to meaningfully change our forecast or the firm’s $55 fair value estimate, leaving shares undervalued.