Golden Entertainment price target lowered to $42 from $45 at JMP Securities

JMP Securities lowered the firm’s price target on Golden Entertainment to $42 from $45 and keeps an Outperform rating on the shares. Golden was not immune to weakness starting late in the quarter and the start of Q2 appears to be weaker than anticipated, the analyst tells investors in a research note. The cost containment programs will ease the negative impact on margins, but it appears costs will still increase year over year stemming largely from the labor negotiation and an increase in the minimum wage, the firm says.