Mirage shares rise on upgrade
Tuesday, Dec. 7, 1999 | 11:46 a.m.
Mirage Resorts Inc. stock rose 10.6 percent in early afternoon trading today after Lehman Brothers upgraded its rating of the casino operator's shares to "buy" from "neutral."
Mirage was quoted at $15 a share, up $1.4375, in heavy trading. Mirage stock has climbed more than 16 percent since Friday, when BancBoston Robertson Stephens also upgraded the shares.
Lehman Brothers set a six-month target price of $19 for Mirage stock and boosted its fourth-quarter and year 2000 earnings estimates.
Lehman also raised its cash-flow projection for 2000 to $631.5 million from $605 million, citing "greater expectations" from Bellagio, Treasure Island and Monte Carlo, Mirage's joint venture with Mandalay Resort Group.
Lehman said it expects the Aladdin's opening, now scheduled for the summer of 2000, won't occur before "late in 2000 at the earliest," which could benefit companies "with significant exposure to the market, such as Mirage."
archive
- Most Read
- Discussed
- Most E-mailed
- Live Main Event blog: Cada and Moon set to square off heads-up
- Ensign moves out of home on C Street
- Cada and Moon emerge as Main Event’s final two
- Cities, county find buying valley homes isn’t easy
- Life in the Limelight: Wayne Newton
- Temperature to hit 80 today in Las Vegas
- UNLV wins hoops scrimmage at Long Beach State
- Everclear’s Art Alexakis finds Hard Rock Cafe feels like home
- Fight snapshot: Reviewing “24/7 Pacquiao/Cotto,” episode 3
- Six people share their stories of what led them to jobs at CityCenter
Blogs
The Greene Room
MWC Winners and Losers: Week 10
The Kats Report
Buchanan was one of the city's truly flamboyant characters
Sports: Upon Further Review
Fight snapshot: Reviewing "24/7 Pacquiao/Cotto," episode 3
The Kats Report
Life in the Limelight: Wayne Newton (4 Comments)
Politics: Ralston's Flash
An entire campaign in one mail piece for Harry Reid (5 Comments)
Miech Again
On the road to Long Beach, UNLV hoops style (13 Comments)
The Kats Report
Vocal strain prompts Wayne Brady to call off 'Making It Up' until 2010 (1 Comment)
Calendar »
- 9 Mon
- 10 Tue
- 11 Wed
- 12 Thu
- 13 Fri
-
Jo Dee Messina at the House of Blues
House of Blues | 7 p.m. to 10 p.m.
-
The Revival Tour at Beauty Bar
Beauty Bar | 9 p.m. to 11:59 p.m.
-
DJ Tina T at Prive
Prive | 10 p.m. to 11:59 p.m.
-
The Automatic Tour at The Square Apple
The Square Apple
The Sun
Locally owned and independent for more than 50 years.
Technorati










