Golden Entertainment downgraded to Hold at Jefferies as focus narrows

As previously reported, Jefferies analyst Cassandra Lee downgraded Golden Entertainment to Hold from Buy with a price target of $43, down from $60. In the context of a recession, gaming stocks "will likely remain rangebound and out of favor," so Lee is narrowing focus to stocks with "a clear path to growth amidst a recession," with a continued preference for Las Vegas and Macau as well as regional operators with an identified growth pipeline.