Barclays analyst Brandt Montour lowered the firm’s price target on Red Rock Resorts (RRR) to $58 from $62 and keeps an Overweight rating on the shares as a part of a Q4 preview for the gaming space. Vegas, Macau and digital prints all likely to “underwhelm,” but this seems priced in, while “beaten-down regionals” could exceed low expectations and give newfound hope for modest growth, the analyst tells investors in a research note. The firm expects the Q4 gaming reports to come in positively for regionals.
Invest with Confidence:
- Follow TipRanks' Top Wall Street Analysts to uncover their success rate and average return.
- Join thousands of data-driven investors – Build your Smart Portfolio for personalized insights.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on RRR:
- Red Rock Resorts price target lowered to $57 from $61 at JMP Securities
- Red Rock Resorts price target lowered to $49 from $56 at Truist
- Red Rock Resorts price target lowered to $48 from $52 at Morgan Stanley
- Bet On It: FanDuel Sports Network parent rebrands after emerging from bankruptcy
- Red Rock Resorts downgraded to Hold from Buy at Jefferies