Red Rock Resorts price target raised to $64 from $60 at Truist

Truist raised the firm’s price target on Red Rock Resorts to $64 from $60 and keeps a Hold rating on the shares as part of a broader research note previewing Q2 results in Gaming. Investors are fearing an “ever-looming” consumer pullback, though Gaming fundamentals have largely held up despite persistent macro pressures, the analyst tells investors in a research note. Las Vegas Locals dynamics remain an area of interest given the effect that Red Rock’s Durango opening had on promo levels in the market, and while it remains unclear what cannibalization has looked like across the company’s other properties, after some pullback in mid-Q2, the stock has rebounded to a near five-year high, the firm added.