MGM Resorts price target lowered to $45 from $47 at Truist

Group 1 - Truist lowered the price target on MGM Resorts from $47 to $45 while maintaining a Buy rating on the shares [1] - The target cut is attributed to "more conservatism" regarding the company's growth inflection on the Las Vegas Strip [1] - November Strip gross gaming revenue decreased by 1% year-over-year, mainly due to lower table and baccarat win [1] Group 2 - Truist also reduced estimates for Caesars (CZR) alongside MGM, citing "soft" Strip RevPAR [1] - Despite the challenges on the Strip, both MGM and Caesars are viewed as "inexpensive" stocks [1] - The issues faced on the Strip are considered "well known" by the market [1]