Citizens JMP lowered the firm’s price target on Century Casinos (CNTY) to $3 from $4 and keeps an Outperform rating on the shares. Century Casinos missed EBITDAR estimates in Q1, with the quarter impacted by worse-than-expected weather-related impacts across the diverse portfolio of assets, as well as one less day in the quarter and the loss of high-margin sports betting skin revenue in Colorado, the analyst tells investors in a research note. Citizens believes the stock is mispriced on the heels of inflecting free cash flow and an improving balance sheet.
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