Truist analyst Barry Jonas raised the firm’s price target on Red Rock Resorts to $60 from $58 and keeps a Hold rating on the shares as part of a broader research note previewing Q1 earnings in Gaming. The group has underperformed a resilient S&P year-to-date, but consumer discretionary spend – (especially on casino floors – remains sturdy in the face of continued macro uncertainty, the analyst tells investors in a research note. While regional weather impacts and delayed rate cuts have impacted the stocks, the impact is largely priced in at this point, the firm added.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on RRR:
- Red Rock Resorts price target raised to $66 from $61 at JMP Securities
- Red Rock Resorts price target raised to $64 from $62 at Barclays
- Bet On It: Bragg Gaming CFO to resign
- Red Rock Resorts price target raised to $53 from $51 at Morgan Stanley
- Red Rock Resorts price target raised to $57 from $52 at BofA