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Investing.com - JMP Securities has lowered its price target on Golden Entertainment (NASDAQ:GDEN) to $35.00 from $36.00 while maintaining a Market Outperform rating on the stock. The company’s shares currently trade at $29.24, having declined 9.11% over the past week. According to InvestingPro data, analyst targets range from $31 to $38, with a consensus recommendation leaning towards Buy.
The price target adjustment was made by the firm on Friday, July 18, 2025, representing a slight reduction in JMP’s valuation outlook for the casino and gaming company.
JMP’s new price target is based on 8.4x the firm’s 2026 estimated EBITDA, a multiple that remains unchanged from its previous valuation model.
The price target also incorporates an 11.5x multiple on JMP’s 2026 estimated free cash flow, which also remains unchanged from its prior analysis.
Despite the modest price target reduction, JMP continues to maintain its bullish Market Outperform rating on Golden Entertainment shares, suggesting the firm remains positive on the company’s overall outlook.
In other recent news, Golden Entertainment reported its first-quarter earnings for 2025, which fell short of market expectations. The company posted earnings per share (EPS) of $0.09, missing the forecasted $0.14, and revenue of $160.84 million, below the anticipated $164.98 million. Truist Securities downgraded Golden Entertainment’s stock from Buy to Hold, citing weakness at the Stratosphere property and lowering its price target to $34.00. Meanwhile, JMP maintained its Market Outperform rating with a $36.00 price target, noting potential positive impacts from a new tax bill on tips.
Additionally, Golden Entertainment announced executive updates from its recent annual shareholder meeting, including the approval of an amended incentive plan and the election of directors. Shareholders also ratified Deloitte & Touche LLP as the independent registered public accounting firm for the year. Despite the earnings miss, the company emphasized its focus on operational efficiencies and strategic stock buybacks. Golden Entertainment remains optimistic about future quarters, with positive occupancy trends noted at The Strat property.
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