CBRE raises Red Rock Resorts price target on locals-market outlook
CBRE raised its price target for Red Rock Resorts, citing a view that the Las Vegas locals market is better placed than the Strip to withstand an economic slowdown. Its analyst estimated second-quarter EBITDA of $193.5 million for the company, accounting for construction disruption that may peak in the third quarter.
The revised target and earnings estimate inform investor assessments of Red Rock Resorts’ growth and operating outlook.