Bally’s price target lowered to $10 from $12 at Stifel

Stifel lowered the firm’s price target on Bally’s (BALY) to $10 from $12 and keeps a Hold rating on the shares. Estimates are likely moving lower again, though the firm sees line-of-sight into C&R improvement, the analyst tells investors in a post-earnings note. However, high net leverage, low trading liquidity and overall complexity keep the firm cautious until Bally’s concludes its “ongoing high risk/reward capital project cycle,” the analyst added.