Red Rock Resorts downgraded to Neutral from Outperform at Mizuho

Mizuho analyst Ben Chaiken downgraded Red Rock Resorts (RRR) to Neutral from Outperform with a price target of $44, down from $57. The firm sees risk to 2025 estimates, as well as a potentially slower development and construction pipeline than the Street expects, which it believes could weigh on Red Rock’s multiple. The stock offers “poor risk/reward” at current levels with downside to Street estimates and risk of potential multiple compression, the analyst tells investors in a research note.