Golden Entertainment price target lowered to $51 from $56 at JMP Securities

JMP Securities lowered the firm’s price target on Golden Entertainment to $51 from $56 and keeps an Outperform rating on the shares. Golden’s Q2 EBITDA miss vs. consensus was on the back of continued renovation disruption at the STRAT and inflationary wage pressure, the analyst tells investors in a research note. Revenue and margins will start to accelerate later in the quarter and into Q4, the firm says.