{"id":225454,"date":"2022-08-08T15:32:34","date_gmt":"2022-08-08T20:32:34","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=225454"},"modified":"2022-08-08T17:41:35","modified_gmt":"2022-08-08T22:41:35","slug":"mgm-stock-annointed-top-thematic-idea-by-citi-analyst","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/mgm-stock-annointed-top-thematic-idea-by-citi-analyst\/","title":{"rendered":"MGM Named Top Thematic Idea by Citi"},"content":{"rendered":"

Shares of MGM Resorts International (NYSE:MGM) are up more than 16% over the past month. That’s prompted some analysts to opine the stock is building second half momentum.<\/p>\n

\"MGM\"
The iconic lion at MGM Grand on the Las Vegas Strip. Citi says MGM stock is a winning thematic idea. (Image: Twitter)<\/figcaption><\/figure>\n

In a report out today, Citi previews its top thematic ideas for the back half of 2022. The bank highlights stocks with leverage to various themes, including artificial intelligence, automation, internet-based business models, emerging markets consumers, high brand recognition, and net zero exposure. MGM is one of 30 names on the list.<\/p>\n

From here, we look under the hood of these baskets and provide a list of Citi Buy rated stocks that have high\/medium exposure to what we believe are the most attractive themes within the S&P 500,” strategist Scott Chronert wrote. “Stocks with negative expected earnings growth are removed, with the remaining stocks ranked by expected total return.”<\/p><\/blockquote>\n

MGM appears on Citi\u2019s \u201cThematic 30\u201d list because of its emerging consumer exposure<\/a>. The casino operator scores 65.5%, trailing only General Motors (NYSE:GM). The Bellagio operator is the only gaming equity on the list.<\/p>\n

MGM Can Offset International Risk<\/h2>\n

Citi\u2019s call that MGM is a play on emerging market consumer trends is credible, as the operator owns 56% of MGM China.<\/p>\n

\n

That means exposure to Macau, which has been a vexing proposition for casino operators this year amid China\u2019s ongoing crackdown on COVID-19 cases. As such, MGM China is resisting significant investments<\/a> in the special administrative region (SAR) for the time being. Fortunately, MGM has outlets for offsetting China risk than the other US-based firms operating there.<\/p>\n<\/div>\n

\u201cLas Vegas Strip results were solid, and it seems like demand and spending patterns have shown no signs of slowing through July,\u201d wrote Stifel analyst Steven Wieczynski in a recent note on MGM.<\/p>\n

He rates the stock \u201chold,\u201d with a $42 price target. The Excalibur operator has the largest footprint on the Strip.<\/p>\n

Other Favorable MGM Factors<\/h2>\n

While Citi praised MGM as an emerging consumer play, the company also checks the boxes of enviable brand recognition and some internet exposure via its BetMGM unit.<\/p>\n

The iGaming and online sports wagering business is a potential second-half catalyst for MGM shares in its own right. That could prove to be the case if the operator keeps a lid on promotional spending through football season<\/a> and capitalizes on the recent legalization of sports wagering in Massachusetts.<\/p>\n

\u201cPutting it all together, we think management has painted a compelling strategic vision consisting of their asset optimization, online gambling, and proposed integrated resort development initiatives,\u201d <\/strong>concludes Wieczynski.<\/p>\n","protected":false},"excerpt":{"rendered":"

Shares of MGM Resorts International (NYSE:MGM) are up more than 16% over the past month. That’s prompted some analysts to opine the stock is building second half momentum. In a report out today, Citi previews its top thematic ideas for the back half of 2022. The bank highlights stocks with leverage to various themes, including […]<\/p>\n","protected":false},"author":46,"featured_media":225456,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[62,10],"tags":[23],"acf":[],"yoast_head":"\nMGM Stock Annointed Top Thematic Idea By Citi Analyst<\/title>\n<meta name=\"description\" content=\"MGM stock could be winning thematic idea, according to Citi.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.casino.org\/news\/mgm-stock-annointed-top-thematic-idea-by-citi-analyst\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"MGM Stock Annointed Top Thematic Idea By Citi Analyst\" \/>\n<meta property=\"og:description\" content=\"MGM stock could be winning thematic idea, according to Citi.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/mgm-stock-annointed-top-thematic-idea-by-citi-analyst\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2022-08-08T20:32:34+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-08-08T22:41:35+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/08\/lion.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"900\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Todd Shriber\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@etfgodfather\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Todd Shriber\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/mgm-stock-annointed-top-thematic-idea-by-citi-analyst\/\",\"url\":\"https:\/\/www.casino.org\/news\/mgm-stock-annointed-top-thematic-idea-by-citi-analyst\/\",\"name\":\"MGM Stock Annointed Top Thematic Idea By Citi Analyst\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/mgm-stock-annointed-top-thematic-idea-by-citi-analyst\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/mgm-stock-annointed-top-thematic-idea-by-citi-analyst\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/08\/lion.jpg\",\"datePublished\":\"2022-08-08T20:32:34+00:00\",\"dateModified\":\"2022-08-08T22:41:35+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85\"},\"description\":\"MGM stock could be winning thematic idea, according to Citi.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/mgm-stock-annointed-top-thematic-idea-by-citi-analyst\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/mgm-stock-annointed-top-thematic-idea-by-citi-analyst\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/mgm-stock-annointed-top-thematic-idea-by-citi-analyst\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/08\/lion.jpg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/08\/lion.jpg\",\"width\":1200,\"height\":900,\"caption\":\"The iconic lion at MGM Grand on the Las Vegas Strip. 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