Gold prices dip as December rate cut bets wane; economic data in focus
Investing.com - Red Rock Resorts (NASDAQ:RRR) received an upgrade from Stifel on Monday, with the firm raising its rating from Hold to Buy and increasing its price target to $68.00 from $63.00. The new target represents approximately 28% upside from the current price of $53.31.
Stifel cited a "compelling risk/reward scenario" following the recent pullback in Red Rock’s share price, despite acknowledging the timing might be early given the company’s recently announced expansion at its Durango property. InvestingPro data shows the stock has declined 8.78% over the past week, though it maintains an impressive 25.44% gain over the last six months.
The upgrade comes amid potential construction disruption throughout 2026, though Stifel believes consensus estimates already properly account for these headwinds.
Stifel highlighted several factors supporting its long-term investment case, including continued strength in the Las Vegas locals market driven by healthy demographics and potential market share gains due to Red Rock’s superior assets.
The firm also pointed to Red Rock’s untapped land bank providing optionality and what it described as a "best-in-class growth profile" across Stifel’s gaming coverage universe.
In other recent news, Red Rock Resorts reported its third-quarter earnings for 2025, surpassing analyst expectations with an earnings per share (EPS) of $0.68, well above the projected $0.38. However, the company’s revenue slightly missed forecasts, coming in at $475.6 million compared to the anticipated $478.17 million. These financial results highlight the company’s ability to exceed earnings estimates, although revenue fell short of projections. Despite this earnings beat, investor concerns were evident following the announcement. The results reflect mixed outcomes for Red Rock Resorts, with strong earnings but less robust revenue figures. Analysts and investors will likely continue to monitor the company’s performance closely in light of these recent developments.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.