Red Rock Resorts price target lowered to $48 from $52 at Morgan Stanley

Morgan Stanley analyst Stephen Grambling lowered the firm’s price target on Red Rock Resorts (RRR) to $48 from $52 and keeps an Overweight rating on the shares. Gaming, lodging and leisure appear to be “on better footing heading into 2025,” but “if past is prologue from the new administration then overall growth in the sector may stay tempered in most segments,” says the analyst, who is shuffling the firm’s hand to reflect recent moves and aligning estimates with the firm’s economists’ forecasts.