Truist upgraded Monarch Casino (MCRI) to Buy from Hold with a price target of $100, up from $82. The company’s “best-in-class assets” should benefit as Reno renovations complete in Q2 while its “best-in-class” balance sheet puts it in strong positioning for acquisitions, the analyst tells investors in a research note. The firm thinks Monarch Casino “has quality characteristics that resonate with investors.” Both its properties are best-in-class with high quality amenities appealing to a relatively higher-end customers within their respective markets, contends Truist.
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