Maxim lowered the firm’s price target on Hall of Fame Resort & Entertainment to $8 from $12 but keeps a Buy rating on the shares. The company’s initial 2024 guidance for revenue at $27M-$30M was below the “two-analyst consensus” of $33.8M, though the adjusted EBITDA loss in the $M-mid-teens was generally consistent with consensus of $18.6M, aided by flattish expenses, the analyst tells investors in a research note. Maxim adds that its reduced 2024 estimates conform to guidance, calling for a slower ramp of revenue and earnings.
Confident Investing Starts Here:
- Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on HOFV:
Looking for a trading platform? Check out TipRanks' Best Online Brokers guide, and find the ideal broker for your trades.
Report an Issue