Citizens JMP analyst Jordan Bender lowered the firm’s price target on Golden Entertainment (GDEN) to $34 from $35 and keeps an Outperform rating on the shares. Conversations with general managers at St. Louis, Missouri properties highlight strong trends continuing into mid-September, providing a positive backdrop for regional gaming heading into Q3 earnings, the analyst tells investors in a research note. The momentum is on the back of higher spend per visit, while visitation is roughly flat, the firm says.
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