Full House Resorts price target lowered to $8 from $9 at B. Riley

B. Riley lowered the firm’s price target on Full House Resorts (FLL) to $8 from $9 and keeps a Buy rating on the shares. The Q3 shortfall was due to a higher fixed cost base at Chamonix, inclement weather in the South and planned refurbishment at Grand Lodge leading to group event postponement, the analyst tells investors in a research note. The firm anticipates the shares to digest the Q3 EBITDA miss, though its longer-term thesis for Full House remains the same.