Full House Resorts price target lowered to $5 from $6 at Citizens JMP

Citizens JMP analyst Jordan Bender lowered the firm’s price target on Full House Resorts (FLL) to $5 from $6 and keeps an Outperform rating on the shares. Full House’s Q4 revenue was 1% above consensus and EBITDA beat consensus for the first time in four quarters, the analyst tells investors in a research note. The reversal of the headwinds in Colorado and the core portfolio’s stability will allow the company to deleverage throughout the year and generate positive free cash flow for the first time in several years, the firm argues, adding that it is comforted by the forecast that the final product can generate substantial EBITDAin the long term, with gaming revenue at the temporary facility approaching the original targeted levels.