Golden Entertainment price target raised to $37 from $36 at Citizens JMP

Citizens JMP analyst Jordan Bender raised the firm’s price target on Golden Entertainment (GDEN) to $37 from $36 and keeps an Outperform rating on the shares. Golden Entertainment posted mixed Q4 results, missing revenue expectations by 2% and EBITDA 1% above consensus, the analyst tells investors in a research note. The company experienced headwinds throughout 2024, including weakness within the lower end of its database, negative weather in Las Vegas, and renovation disruptions, and commentary from management around the consumer, including stability from the lower end of the database, was a “noticeable shift in tone,” the firm says, adding that the commentary on the call around “transformational” M&A leaves the firm to believe management is becoming more adamant around its willingness to explore strategic alternatives, including the use of its balance sheet to increase the diversification of the enterprise.