Wells Fargo trims price targets on MGM Resorts and Monro, keeps ratings
Wells Fargo kept Equal-Weight ratings on MGM Resorts and Monro but cut price targets to $28 for MGM and $12 for Monro.
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what happened
Wells Fargo kept its Equal-Weight rating on MGM Resorts International but lowered its price target from $29 to $28, a 3.4% reduction. According to TradingView, citing Benzinga, the new target implies a 2.9% downside from the October 29 close of $28.83.
The bank also maintained Equal-Weight on Monro and cut its target from $15 to $12, a 20.0% decrease. That target implies a 2.4% downside from the October 29 close of $12.30.
why it matters
Rating and target changes like these are routine and rarely move the broader market. MGM's new $28 target sits below the $34 to $46 range across the five most recent analyst notes over the past 30 days. It signals a more cautious Wells Fargo view on both companies, but it is not a signal about where the shares will trade.
tags
instruments
sources
- Wells Fargo maintains MGM Resorts International at Equal-Weight, lowers price target to $28 from $29 — TradingView, 30 October 2026 at 15:33 UTC
- Wells Fargo maintains Monro at Equal-Weight, lowers price target to $12 from $15 — TradingView, 30 October 2026 at 15:48 UTC
prepared by the newsmetry newsroom with ai assistance from the sources listed below. not investment advice.
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