MGM Price Prediction Next Week
Technical Analysis
Based on recent price action, MGM stock shows a bearish trend in the short term. The stock experienced a significant drop from its recent high, with current support level around $34.00. The stock is trading below its moving averages, indicating downward momentum.
News Impact Analysis
- Strong Q4 2024 performance with non-GAAP EPS of $0.45, beating estimates by $0.11
- Record convention bookings in December and continued revenue growth in Las Vegas Strip Resorts
- Nevada gaming win jumped 12.5% year-over-year in January, with Las Vegas Strip casinos seeing a 22.5% increase
- Upcoming Japan expansion with groundbreaking ceremony scheduled for April 24, 2025
Fundamental Strength
- MGM rates 90% based on Shareholder Yield Investor model, indicating strong fundamentals
- BetMGM expected to be profitable in 2025
- Strong demand trends continuing into 2025
Price Prediction for Next Week (March 4-8, 2025) Based on technical indicators and recent news:
- Resistance: $36.50
- Support: $34.00
- Target Price Range: $34.50-$35.50
Recommendation: HOLD The stock shows mixed signals with positive fundamental outlook but bearish technical indicators. While long-term prospects remain strong with Japan expansion and digital growth, short-term technical weakness suggests waiting for better entry points. Current price movement indicates consolidation phase with downward bias.
Target Prices:
- Bearish scenario: $33.50 (60% probability)
- Neutral scenario: $34.75 (30% probability)
- Bullish scenario: $36.00 (10% probability)
MGM Similar Chart Price Prediction
The price of MGM is predicted to go up -17.93%, based on the high correlation periods with QXO. The similarity of these two price pattern on the periods is 97.06%.
MGM
QXO
Down: -17.93%Similarity: 97.06%
MGM Revenue Forecast
MGM EPS Forecast
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MGM VS S&P500
MGM was awarded the only urban Japanese gaming concession due to its strong experience operating leading resorts in Las Vegas and its successful record of working with partners.
MGM is positioned to participate in Macao's long-term growth opportunity (17% of 2023 EBITDAR) and has seen its room share expand (to 8% from 3%) with the opening of its Cotai casino in February 2018.
MGM's US properties are positioned to benefit from the expansion of the multibillion-dollar domestic sports and iGaming betting market.
MGM Analyst's Forecast
Stephen Grambling
Morgan Stanley
Hold
2025-02-24
Price Target
$39 → $41
Upside
+12.73%
Morgan Stanley analyst Stephen Grambling raised the firm's price target on MGM Resorts to $41 from $39 and keeps an Equal Weight rating on the shares. Following the first two weeks of Q4 earnings from the North American casino gaming group, the firm says Vegas commentary was better to start 2025, regional trends were called out as "stable" following a recovery after the post-election lull and that digital trends are "off to solid start across hold and handle in 2025."
George Choi
Citigroup
Strong Buy
2025-02-13
Price Target
$48 → $50
Upside
+23.85%
Daniel Politzer
Wells Fargo
Buy
2025-02-13
Price Target
$44 → $46
Upside
+13.95%
