Zachary Silverberg, an analyst from Wells Fargo, maintained the Buy rating on Golden Entertainment (GDEN – Research Report). The associated price target remains the same with $38.00.
Zachary Silverberg has given his Buy rating due to a combination of factors that suggest a positive outlook for Golden Entertainment. The company’s adjusted EBITDA for the fourth quarter of 2024 was in line with expectations, and management has expressed optimism about the stabilization of fundamentals across its portfolio as it moves into 2025. This positive sentiment is supported by sequential improvements in trends across most properties, with the exception of seasonal impacts in Laughlin, and year-over-year growth showing month-to-month improvements.
Furthermore, Golden Entertainment’s management is actively seeking to enhance shareholder value through strategic initiatives such as share buybacks and potential acquisitions. The company is open to acquiring assets that align with its expertise, particularly in brick-and-mortar operations, and is considering opportunities outside Nevada. Silverberg’s price target of $38 implies a 23% upside, reflecting confidence in the company’s strategic direction and the potential for real estate optionality to add value.
According to TipRanks, Silverberg is an analyst with an average return of -12.1% and a 35.71% success rate.
In another report released today, JMP Securities also maintained a Buy rating on the stock with a $37.00 price target.