Red Rock Resorts price target raised to $79 from $73 at Jefferies

Jefferies raised the firm’s price target on Red Rock Resorts (RRR) to $79 from $73 and keeps a Buy rating on the shares. Better-than-expected Q4 results are likely positive for shares as Red Rock Resorts continues to show leadership in the LVL market, the firm says. Capital projects remain on time and on budget, complemented with a newly announced next phase at Sunset Station. While construction may partially offset near-term growth, the company’s track record of execution supports Jefferies’ confidence that returns will meet or exceed targets.