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Investing.com - JMP Securities raised its price target on Full House Resorts (NASDAQ:FLL) to $5.00 from $4.00 on Friday, while maintaining a Market Outperform rating on the casino operator’s shares. The stock, currently trading at $4.69, has shown strong momentum with a 15% gain year-to-date, according to InvestingPro data.
The price target increase represents a 25% boost from the previous target set by the investment firm.
JMP analyst Jordan Bender based the new price target on 8.3x the firm’s 2026 estimated EBITDA, up from the previous multiple of 7.9x.
The analyst also maintained an 8x multiple on the company’s 2026 estimated free cash flow as part of the valuation framework.
Full House Resorts operates casinos, hotels and related hospitality and entertainment facilities in several U.S. states including Nevada, Colorado, Indiana, Illinois, and Mississippi. The company has achieved revenue growth of 14% over the last twelve months, though analysts tracked by InvestingPro do not expect profitability this year. Get access to 11 more exclusive InvestingPro Tips and comprehensive analysis in the Pro Research Report.
In other recent news, Full House Resorts has promoted Lewis (JO:LEWJ) Fanger to President, Chief Financial Officer, and Treasurer, ensuring leadership continuity within the company. This follows the extension of his employment agreement and highlights the company’s commitment to stable executive leadership. Additionally, CEO Daniel Lee made a significant investment by purchasing 270,000 shares of Full House Resorts, valued at approximately $1.28 million, signaling confidence in the company’s future. On the analyst front, JMP Securities maintained a Market Outperform rating for Full House Resorts with a $4.00 price target, noting improvements at the Chamonix Casino (EPA:CASP) in Colorado and optimism for the Waukegan project in Illinois.
Furthermore, the company has appointed Joshua Le Duff as Senior Vice President and Chief Marketing Officer, pending regulatory approvals. Le Duff is expected to bring substantial marketing expertise to the role, potentially aiding revenue growth. At the recent Annual Meeting of Stockholders, seven directors were elected, and the 2025 Equity Incentive Plan was approved, demonstrating shareholder engagement and support for executive compensation strategies. These developments underscore Full House Resorts’ strategic efforts to enhance its operational and financial performance.
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