LEHMAN BROS. HIGH ON MGM MIRAGE

December 08, 2001 11:07 PM
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Lehman Bros. is high on MGM Mirage.

The company's gaming analyst Joyce Minor raised her rating on MGM MIRAGE from "market perform" to "buy" and set a $33 price target for the stock, according to a Las Vegas Sun report.

"We have long admired MGM Mirage's best in the class assets and margins and view the weakness (in the stock) relative to the market as a buying opportunity," Minor said.

MGM MIRAGE posted a third-quarter loss, after one-time charges, of $14.4 million or nine cents a share.

Lehman Bros. downgraded Park Place Entertainment from "strong buy" to "buy." Minor cited "somewhat disappointing results" even prior to the Sept. 11 terrorist attacks.