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Investing.com - JMP Securities raised its price target on Red Rock Resorts (NASDAQ:RRR) to $64.00 from $57.00 on Wednesday, while maintaining a Market Outperform rating on the casino operator’s stock. The new target sits within the broader analyst range of $44 to $68, with InvestingPro data showing the stock currently trading at $55.01 and carrying a "GOOD" Financial Health Score.
The price target increase represents potential upside based on JMP’s valuation metrics of 10.5x their 2027 estimated EBITDA and 14.0x their 2027 estimated free cash flow.
JMP’s previous price target had been based on 10.8x their 2026 estimated EBITDA and 14.8x their 2026 estimated free cash flow, indicating a shift in their valuation timeframe.
The firm noted that Red Rock Resorts currently trades at 9.8x their 2027 estimated EBITDA, which represents a slight discount to the company’s long-term average.
JMP cited "strong execution" at Red Rock Resorts as a factor that could lead to upside to their current financial estimates for the company.
In other recent news, Red Rock Resorts Inc . reported impressive financial results for the second quarter of 2025, surpassing earnings expectations. The company achieved an earnings per share of $0.95, significantly higher than the anticipated $0.41, marking a surprise of 131.71%. Additionally, Red Rock Resorts’ revenue exceeded forecasts, reaching $526.3 million compared to the expected $487.61 million. These figures indicate strong financial performance for the period. While the stock’s aftermarket trading saw a minor increase, the primary focus remains on the company’s substantial earnings and revenue achievements. These developments highlight Red Rock Resorts’ ability to outperform market projections. Investors may find this information crucial as it reflects the company’s current financial health and operational success.
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