MGM Resorts International (NYSE: MGM) Stock Analysis: Price Target, Earnings, and Acquisition Uncertainty

• Analyst firm Morgan Stanley raised its price target for MGM Resorts International stock but maintained an "Underweight" rating, suggesting potential underperformance for the hospitality and entertainment company.
• MGM is projected to report a year-over-year decline in earnings per share, with an estimated $0.62 per share, despite expected revenue growth in its upcoming Q2 2026 earnings report.
• An ongoing investigation into a $48.30 per share acquisition bid by board member Barry Diller adds further complexity and investor uncertainty for MGM shareholders.

MGM Resorts International (NYSE: MGM) is a global hospitality and entertainment company, operating a portfolio of destination resort casinos. Its digital arm, BetMGM, is a major player in the competitive sports betting market, competing with companies like DraftKings and FanDuel. The MGM stock currently trades at $45.48 per share.

On July 22, 2026, the analyst firm Morgan Stanley raised its price target for MGM to $43, an increase from its previous target of $35. A stock price target represents an analyst's estimate of a stock's future value. Notably, this new target is below the stock's current trading price.

Despite raising the MGM price target, Morgan Stanley maintained its "Underweight" rating on the MGM stock. An "Underweight" rating suggests that the analyst believes the stock will likely underperform compared to the broader market or other stocks in its sector. This outlook may be tied to the company's upcoming earnings report.

MGM is scheduled to release its Q2 2026 earnings on July 29, 2026. As highlighted by Zacks Equity Research, the company is projected to report a year-over-year decline in earnings per share (EPS), with an estimated $0.62 per share, even as revenues are expected to increase. This MGM earnings report is a key event that could significantly influence the MGM stock's price.

Adding another layer of complexity, law firm BFA Law has announced an investigation into a bid by board member Barry Diller to acquire the company for $48.30 per share. The investigation focuses on potential breaches of duty, creating significant investor uncertainty for MGM shareholders as they await both the earnings results and developments on the acquisition front.