Opinions Elliott Fishman
MGM Resorts InternationalMGMTOP PICKJan 03, 2017
Stock price when the opinion was issued
As of Jun 05, 2026. Market Open.
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Vegas tourism is white hot. Revenue per room was up 11% in May YOY, convention attendance up 2%, and visitors up 5%. MGM has over half its business from Vegas. But he doesn't like MGM's regional business and those patrons are struggling from higher inflation and interest rates. He Likes MGM, but prefers Wynne because it has more Vegas exposure. But Vegas' boom isn't pushing up Vegas stocks, which is frustrating. Frankly, the market is getting it wrong. When Wynne reports, their strong Macau business will shine.
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Like Wynne, the chart has made a golden cross in October, a definite bullish sign. The casino stocks indicate what the markets will be like in 6 months. When we revert to normal, tourism will bounce back and gambling with have a huge year. The country is stir crazy and desperately wants a vacation, which will happen in the second half of 2021. This is more of a vaccine play vs. its peers like Wynne.
Elliott Fishman
He loves the sector. He usually talks about the bigger companies, and this is the one that always looks like it died on the operating table. However, for the 1st time in a long time, it has actually made a move of its own without crazy volume. Barring some kind of hiccup, this stock is on its way to $40, which he thinks is attainable. It is acting quite well. (Analysts’ price target is $33.91.)