Roth MKM keeps Buy on Full House Resorts, trims price target to $12

Roth MKM analyst David Bain lowered the firm’s price target on Full House Resorts to $12 from $13 and keeps a Buy rating on the shares. The firm notes the company reported a Q2 miss against low expectations, although Roth admits it incorrectly thought many of these headwinds were reflected in buy-side numbers. The firm sees margins here rebounding by early 2024 as Full House Resorts pulls back costs amid a higher GGR profile. The rest of the portfolio also showed choppy trends, but Roth believes management can correct EBITDA headwinds at Silver Slipper and Bronco Billys by 2024.