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.
Protect Your Portfolio Against Market Uncertainty
- Discover companies with rock-solid fundamentals in TipRanks' Smart Value Newsletter.
- Receive undervalued stocks, resilient to market uncertainty, delivered straight to your inbox.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on RRR: