JP Morgan Cuts MGM Price Target to $42

JP Morgan maintained its Overweight rating on MGM Resorts International on October 20, 2026, while lowering its price target from $53.00 to $42.00. The rating update arrived just days before the hospitality firm's scheduled quarterly financial update. MGM Resorts closed at $28.90 on the day of the announcement.

MGM MGM Resorts International

$29.16 ▼ -20.09% year to date

1M 3M YTD

Daily close · Oct 22, 2026

JP Morgan's Call on MGM Resorts International

In its research note on October 20, 2026, JP Morgan kept an Overweight rating on MGM Resorts International while adjusting its target down from $53.00 to $42.00. The adjustment places the firm's expectation close to the broader group view as Wall Street firms refresh their models ahead of upcoming corporate results.

Other Institutional Activity in MGM Resorts International

Davis Selected Advisers grew its holdings by 391,141 shares, ending with 23,903,317 shares worth about $695,586,533. Starlite Capital Inc grew its holdings by 4,665,208 shares, ending with 9,330,416 shares worth about $271,515,109. Corvex Management LP grew its holdings by 0 shares, ending with 5,347,978 shares worth about $155,626,161.

MGM Resorts International Stock Up 0.5%

MGM Resorts shares recently traded around $29.04 as of October 22, 2026, up about 0.5% from the event close of $28.90. The stock trades near its 52-week low of $27.94, remaining well below its 52-week high of $51.59. The company has a market capitalization of roughly $7.39 billion with a price-to-earnings ratio of 17.82.

Recent Earnings

MGM Resorts International posted trailing twelve-month revenue of $17,761,441,792 and basic earnings of $1.62 per share. The company generated a net profit margin of 2.4% alongside an 18.9% return on equity. The next earnings report is scheduled for October 28, 2026.

Insider Buying and Selling at MGM Resorts International

Daniel J Taylor, Director, sold 6,675 shares on May 22, 2026, at an average price of $38.44 for a total value of $256,587. The transaction was not executed under a pre-arranged Rule 10b5-1 plan.

Analysts Set New Price Targets

On October 19, 2026, Morgan Stanley maintained its Underweight rating and lowered its target from $43.00 to $29.00. Wells Fargo maintained an Equal-Weight rating on October 19, 2026, while moving its target from $48.30 down to $29.00. Stifel maintained a Hold rating on October 20, 2026, adjusting its target from $49.00 to $40.00. Truist Securities maintained a Buy rating on October 20, 2026, lowering its target from $55.00 to $45.00. Across the broader analyst community, the stock holds a consensus buy rating with a mean target price of $42.11.

About MGM Resorts International

MGM Resorts International operates major casino resorts, hotels, and entertainment venues, with key properties on the Las Vegas Strip alongside regional operations, digital gaming platforms, and international resorts in China. The company's diverse entertainment offerings provide a steady business foundation that analysts closely monitor through shifting tourism and consumer spending cycles.

Bottom Line

Investors will watch the upcoming earnings release on October 28, 2026, for fresh details on margin trends and digital gaming growth. Wall Street continues to monitor how consumer spending patterns impact resort operations heading into the final stretch of the year.