In a note released Friday, analysts at Macquarie said July non-gaming Las Vegas statistics continue to reflect a healthy and growing market. They point to MGM Resorts (NYSE: MGM) as their top pick among the large-cap gaming stocks.
Macquarie has an Outperform rating on the shares with a $33 price target, a 38 percent premium to the present stock level of $24.41. Macquarie feels the next leg up will be increased room rates, with MGM at the forefront. Caesar's Entertainment (NYSE: CZR) would also likely feel the benefit of raising prices.
Shares of MGM and Caeser's were trading down 1.85 percent and 0.67 percent, respectively.
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