- Union Gaming lifts estimates on Buy-rated Monarch Casino & Resort (NASDAQ:MCRI) after sizing up the company's Q4 earnings report and guidance.
- The firm lifts its 2019 adjusted EBITDA estimate on Monarch to $81M from $71M to account for a mid-2019 opening of the Black Hawk expansion.
- "Our $51 price target is still based on a 9.0X multiple of our 2019 pre-Black Hawk expansion EBITDA estimate of $71M, plus $14/share of present value attributable to the expansion," writes Union Gaming analyst John DeCree.
Union Gaming lifts estimates on Monarch Casino & Resort
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Symbol | Last Price | % Chg |
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MCRI | - | - |
Monarch Casino & Resort, Inc. |