Truist analyst Barry Jonas upgraded MGM Resorts to Buy from Hold with a price target of $55, up from $42. The firm's Las Vegas consumer surveys bring more confidence for a "positive MGM Strip inflection." The company is already seeing a "strong" group and event calendar as well as easier summer compares, the analyst tells investors in a research note. Truist sees potential upside to consensus estimates and believes improving investor sentiment can drive MGM shares higher.
