Mizuho upgraded Red Rock Resorts (RRR) to Outperform from Neutral with an unchanged price target of $50. The company’s construction disruption is now well understood and reflected in Street estimates while headwinds from projects are known, the analyst tells investors in a research note. The firm believes Red Rock’s return on investment on construction is likely not being captured or anticipated, with upside potential from President Trump’s “Big Beautiful Bill” from no tax on tips and overtime, which helps the company’s core Las Vegas locals market. Mizuho also sees earnings acceleration from the North Fork management agreement.
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