Citi Research sees LVS and MGM as “consumer cyclical star” for 2024
They are positioned third and fourth in the list.
Macau.- Citi Research said Las Vegas Sands and MGM Resorts International are top choices for consumer discretionary stock ideas in 2024. It highlighted 2024 buy and sell ideas from each of the 11 global industry classification standard (GICS) sectors. On the consumer discretionary side, Sands and MGM were two of its top five ideas.
The company positioned Las Vegas Sands in third place with an expected return of 54 per cent and MGM in fourth place with an expected total return of 44 per cent. Citi Research said it anticipates “fundamental resilience” for the two companies complemented by strong expectations for cash flow, earnings, margins and sales in 2024.
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