BofA analyst Shaun Kelley raised the firm’s price target on Red Rock Resorts (RRR) to $57 from $52 and keeps a Buy rating on the shares. The firm is raising its Las Vegas locals estimates for both Boyd Gaming (BYD) and Red Rock to reflect less cannibalization as it continues to believe that Red Rock’s Durango opening has had a smaller cannibalization impact to Boyd’s Orleans Casino and Red’s own Red Rock Casino than originally anticipated.
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