Bernstein upgrades MGM, says sports betting can help the stock rise nearly 40%

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Jesse Pound@/in/jesse-pound@jesserpound
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MGM Resorts signage during the USA Womens National 3x3 Team practice on July 13, 2021 at Mandalay Bay Convention Center in Las Vegas, Nevada.
Stephen Gosling | National Basketball Association | Getty Images

MGM Resorts' bet on sports gambling is paying off, and investors still have time to jump in early, according to investment firm Bernstein.