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Red Rock Resorts price target raised to $68 from $65 at Susquehanna

Susquehanna analyst Joseph Stauff raised the firm’s price target on Red Rock Resorts (RRR) to $68 from $65 and keeps a Positive rating on the shares. The firm said they reported a strong 2Q beat with core LV Locals Revenue/EBITDA coming in at $513m/$239m, or +9%/+12% versus consensus. The company’s core portfolio (ex-Durango) returned to material growth as un-rated slot play saw the highest growth in roughly 2 years & helped power roughly 40 bps of margin expansion.

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