MGM Resorts cruises to 52-week high

• MGM Resorts (MGM +0.3%) is at a 52-week high and crossed over $27 briefly for the first time since 2014.
• Argus weighed in on the casino stock today, upgrading shares to Buy from Hold due to positive trends out of both Macau and Las Vegas.
• The investment firm doesn't think MGM's share price fully reflects the positive signs out of Macau. Yesterday, Galaxy Entertainment tipped strong Golden Week traffic in an update that could have sector-wide implications.
• Separately, Nomura boosts its price target to $32 as it points to stronger pricing and RevPAR gains in Vegas.