In a report released yesterday, Shaun Kelley from Merrill Lynch maintained a Buy rating on Red Rock Resorts Inc (NASDAQ: RRR), with a price target of $30. The company’s shares closed yesterday at $24.72, close to its 52-week low of $23.40.
According to TipRanks.com, Kelley is a 4-star analyst with an average return of 9.8% and a 58.0% success rate. Kelley covers the Services sector, focusing on stocks such as Penn National Gaming, Las Vegas Sands, and Wynn Resorts.
Currently, the analyst consensus on Red Rock Resorts Inc is a Strong Buy with an average price target of $36.50, a 47.7% upside from current levels. In a report issued on October 8, Deutsche Bank also reiterated a Buy rating on the stock with a $39 price target.
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Based on Red Rock Resorts Inc’s latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of $82.74 million. In comparison, last year the company had a net profit of $11.78 million.
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Red Rock Resorts, Inc. is a holding company, which engages in the management and development of gaming and entertainment facilities. It operates through the Las Vegas Operations and Native American Management segments.
