Golden Entertainment price target lowered to $45 from $48 at JMP Securities

JMP Securities analyst Jordan Bender lowered the firm’s price target on Golden Entertainment to $45 from $48 and keeps an Outperform rating on the shares. Golden Entertainment reported Q4 EBITDA that was slightly below expectations, and endured significant renovation disruption throughout 2023, which will act as an easy comp with the final upgrade at the STRAT completed in Q4 and Atomic Golf opening in March, the analyst tells investors in a research note. The firm expects same-store revenue growth, and slight margin expansion despite increasing costs across the portfolio.