J.P. Morgan ups MGM Resorts PT on growth in betting business, lower taxes

MGM Resorts International

06/02/2026 12:17

** J.P. Morgan raises price target on MGM Resorts International MGM.N to $41 from $39

** New PT represents a 13% upside to stock's last close

** The company posted Q4 profit above Wall Street estimates on Thursday, driven by strong performance in its online sports-betting business

** Brokerage says higher contributions from BetMGM, lower cash taxes and a reduced share count due to $516  million in buybacks boost MGM's free cash flow per share

** MGM gained 5.3% in 2025

 (Reporting by Megavarshini G. Somasundaram in Bengaluru)

 ((Megavarshini.SomasundaramGnanasundari@thomsonreuters.com))