Why MGM Resorts Jumped 7.9% Today

Shares of casino giant MGM Resorts (NYSE: MGM) jumped as much as 7.9% in trading on Monday after getting an analyst upgrade. At 2:45 p.m. EDT, shares were up 5.5%. 

Analyst David Katz at Jefferies upgraded shares of MGM to a buy rating and raised the price target from $36 to $50 per share. The reason for the upgrade was an improved economic outlook due to stimulus checks for Americans and the vaccine reaching everyone who wants it by summer.

Image source: Getty Images.

Continue reading

Source Fool.com