Red Rock Resorts price target raised to $63 from $60 at Stifel

Stifel raised the firm’s price target on Red Rock Resorts (RRR) to $63 from $60 and keeps a Hold rating on the shares. Fears about Las Vegas strip weakness moving into the Las Vegas locals market “seem overblown” based on what Red Rock reported, the analyst tells investors. However, the firm would “probably not” chase shares and would prefer to “wait for an irrational pullback and make a more opportunistic entry,” the analyst tells investors.