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

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.

More In Street Calls

CNBC ProThese stocks are starting to captivate analysts with their incredibly attractive risk/reward
CNBC ProHere are Friday's biggest analyst calls of the day: Tesla, Costco, GE, Plug Power, Facebook & more
CNBC ProJPMorgan predicts this under-the-radar streaming stock could rally more than 30%