UPDATE: Rodman & Renshaw Reiterates Market Perform on MGM Resorts International, Reduces Pt to $12

Rodman & Renshaw reiterated its Market Perform rating on MGM Resorts International (NYSE: MGM). At the same time, the rating agency reduced its price target on the company's stock from $13 to $12. On Monday, MGM closed the day at $11.54. Its shares added 3.55% to their value in today's pre-market trading to stand around $11.95.