BUZZ-MGM falls after Truist downgrades amid slump in leisure demand

Reuters01-13

** Shares of MGM Resorts International MGM.N fall 1.5% to $34.29 premarket as Truist lowers rating to "hold" from "buy"

** "We downgrade MGM Resorts as despite undemanding valuation, our estimates are below the Street as we think it may be too soon to confidently call a return to growth in 2026" - brokerage

** Truist expects "very flattish trends for the remainder of the year, though admit much will depend on the health of the leisure consumer and could warrant a refresh of our investment thesis midyear"

** Truist also cuts target price to $38 from $45, still representing 9% upside to stock's last close

** 15 brokerages rate stock "buy" or higher, 9 "hold" and 2 "sell"; their median PT is $45 - LSEG-compiled data

** MGM rose 5.3% in 2025

(Reporting by Aatreyee Dasgupta)

((Aatreyee.Dasgupta@thomsonreuters.com))

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