BofA raised the firm’s price target on Red Rock Resorts (RRR) to $65 from $55 and keeps a Neutral rating on the shares after an “impressive beat” in Q2. The firm, which thinks share gains are driven by backfill to Red Rock casino following cannibalization impact from Durango last year and Red Rock executing on its VIP strategy, raised its 2025 EBITDA estimate by 5% following the Q2 report.
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