Texas Capital analyst David Bain downgraded Golden Entertainment (GDEN) to Hold from Buy with a price target of $30, down from $39, after the company announced a definitive agreement to sell its operating assets to Blake Sartini and affiliates and seven of its casino real estate assets to VICI Properties (VICI) in a sale-leaseback transaction. While the firm believes the asset value and operations are worth more than $30 per share, it also believes there are “only a few potential alternative buyers” and that “the stock price premium screens fair,” the analyst tells investors.
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Read More on GDEN:
- Golden Entertainment to be acquired by Blake Sartini, enters leaseback with VICI
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- Golden Entertainment price target lowered to $25 from $30 at Truist
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