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Deutsche Bank Thinks Red Rock Resorts’ Stock is Going to Recover

Deutsche Bank analyst Carlo Santarelli maintained a Buy rating on Red Rock Resorts (RRRResearch Report) today and set a price target of $45.00. The company’s shares closed last Friday at $34.13, close to its 52-week low of $30.98.

According to TipRanks.com, Santarelli is a 5-star analyst with an average return of 18.2% and a 55.1% success rate. Santarelli covers the Services sector, focusing on stocks such as International Game Technology, Hilton Worldwide Holdings, and Marriott International.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Red Rock Resorts with a $50.57 average price target, representing a 50.1% upside. In a report issued on July 14, Wells Fargo also maintained a Buy rating on the stock with a $48.00 price target.

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Red Rock Resorts’ market cap is currently $3.67B and has a P/E ratio of 7.63.

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Red Rock Resorts, Inc. is a holding company, which engages in the management and development of gaming and entertainment facilities. The firm operates through the following segments: Las Vegas Operations and Native American Management. Its amenities include restaurants, entertainment venues, movie theatres, bowling and convention or banquet space, as well as traditional casino gaming offerings such as video poker, slot machines, table games, bingo and race and sports wagering. The company was founded in 1976 and is headquartered in Las Vegas, NV.

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