Red Rock Resorts price target raised to $60 from $44 at Stifel

Stifel raised the firm’s price target on Red Rock Resorts (RRR) to $60 from $44 and keeps a Hold rating on the shares. While the firm says it has been more guarded in general around regional gaming operators, it adds that it is “clear” the Las Vegas Locals market and Red Rock are “operating on a much different level relative to your ‘normal’ regional gaming operator.” However, while admitting that the firm has been “dead wrong” with its Hold rating, the analyst would “probably not” chase shares at current levels and prefers to wait for “an irrational pullback,” if there is one.