JMP Securities lowered the firm’s price target on Golden Entertainment to $56 from $57 and keeps an Outperform rating on the shares. Following a down April and May, June returned to positive growth for regional gaming, and the overall tone from recent property visits in Kansas City was “more of the same” in terms of the consumer, the analyst tells investors in a research note. Growth should remain muted throughout most of 2023, and while JMP Securities is modeling gross gaming revenue flat to down 1% for Q3-Q4, the firm looks to Golden to outperform in 2H23.
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