MGM - MGM: Could Be First Breakout Among Gaming Stocks From Current Undervalued Sector
2024-07-02 08:46:07 ET
Summary
- MGM Resorts International is leading the casino and online gaming sectors, with a strong presence in various markets globally.
- Despite the overall sector decline, MGM's diverse verticals and growth strategy position it for significant price recovery and investor recognition.
- MGM's strong financial performance, presence in key markets, and upcoming projects make it a compelling investment opportunity with a projected price target of $68 by the end of 3Q24.
Above: The Lion roars all over the globe: US Las Vegas Strip, US regionals, BetMGM reaching the highest share of the market in US among casino online platforms and third after market leaders FanDuel and Draft Kings.
Premise: Once more, Mr. Market has proven himself so busy chasing AI stocks or other tech “miracle movers” that really solid bargains elsewhere are being missed. Among the orphaned sectors, none is more glaring than the casino and online gaming sectors....
MGM: Could Be First Breakout Among Gaming Stocks From Current Undervalued Sector