Rolling The Dice With Different Views On Casino Stocks (MGM, LVS, WYNN, ISLE, MPEL)
Casino stocks are in the green today, but their performance as a group is lagging the broader market as the Casino Stocks Index is up just 0.7%, a move that will do little to eat away at a decline of nearly 10% in the past month.
MGM Resorts International (MGM) is catching a bid after Hudson Securities upgraded the stock to “hold” from “sell,” saying that at 11x 2012 EBITDA, MGM is more attractively valued than it was at 12x EBITDA for next year. Hudson notes its fundamental outlook for MGM hasn’t changed, nor has the Street’s, and the shares are up 4% today.
Las Vegas Sands (LVS) is up by 1% despite some pensive comments about the stock by “Mad Money” host Jim Cramer. Cramer said he would wait while the Japan situation improves before jumping into this name.
Investors can track the Casino Stocks Index for performance trends and a suite of other metrics at tickerspy.com.
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