Red Rock Resorts (RRR) PT Raised to $56 at Truist Securities

Truist Securities analyst Barry Jonas raised the price target on Red Rock Resorts (NASDAQ: RRR) to $56.00 (from $49.00) while maintaining a Hold rating.

The analyst comments "RRR beat our/Street EBITDA by a solid +4%/+2% as RRR's properties continue to outperform the market (in our view). Q4 sporting outcomes were unfavorable (-$14M Y/Y), though Q1’s Super Bowl was more favorable. Durango continues to outperform generating 16% net ROI, exceeding initial expectations. But construction disruptions remain the overhang for 2025, with mgmt. continuing to expect a $25M EBITDA impact. We modestly lower our 2025E to $825M (from $826M) and take up our PT to $56 as we roll forward our est. now based on 9.5x our 26E.Remain Hold rated as best in class assets/LT growth prospects are balanced by near-term pressures."

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