MGM China may outperform the market in the next 60 days, mainly due to an earnings release, Morgan Stanley said in a report.
MGM China’s EBITDA for the second quarter was strong, with positive surprises from lower operating expense control, a lower than peer ratio of mass reinvestments, and room for further EBITDA upside this year and next, it said.
The broker gave MGM China a target price of HK$15 and an Overweight rating.