UPDATE: Brean Capital Initiates Coverage On MGM Resorts On Good Market Position

In a report published Thursday, Brean Capital analyst Bryan Maher initiated coverage on MGM Resorts International (NYSE: MGM) with a Buy rating and $27.00 price target.

In the report, Brean Capital noted, "With assets in Macau (51% of MGM China) and significant ownership in Las Vegas, along with modest (but growing) U.S. regional gaming exposure, we think MGM just might have the right mix of gaming assets to appeal to investors looking for sector exposure without going 'all-in' with an overly Macau-centric company."

MGM Resorts closed on Wednesday at $22.52.