Benzinga | Oct 12, 2021 08:38AM EDT

Credit Suisse Bumps Up MGM Resorts Price Target By 106%

* Credit Suisse analyst Benjamin Chaiken upgraded MGM Resorts International (NYSE:MGM) to Outperform from Neutral and hiked the price target to $68 from $33, suggesting a 52.77% upside.

* The company has "gone through a transformation," recently announcing four transactions that the market is not giving it full credit for, Chaiken notes.

* Chaiken now sees MGM as a "cleaner more simplified organization" with a more attractive capital structure and believes MGM can beat consensus estimates.

* Price Action: MGM shares are trading higher by 2.21% at $45.40 in premarket on the last check Tuesday.