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MGMBearishAnalyst Target Updateanalyst
High materiality7/10

Wells Fargo cuts MGM Resorts price target to $29 from $48.30

Oct 20, 2026, 1:37 AM EDT1 sourcesAI-analyzed
Why it may matterVerify against the original reporting

The steep target reduction is a meaningful bearish revision, though the new target is marginally above the posted price.

AI summary

What happened, with direct paths to the underlying reporting

Wells Fargo reduced its MGM Resorts target by about 40%; the new $29 target is near the posted price of $28.60, indicating sharply reduced expected upside.

  • Target cut from $48.30 to $29
  • New target is only slightly above the posted $28.60 price

Key facts

  1. 01

    Target: $29

  2. 02

    Posted price: $28.6

  3. 03

    Analyst firm: Wells Fargo

How to read this signal

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StockNews.AI groups source reporting, classifies the event, and measures subsequent price movement. This is informational research, not investment advice. Prices may be delayed or unavailable.

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