Union Gaming analyst John DeCree weighs in on Red Rock Resorts (RRR +5.4%) following the casino operator's Q4 earnings report.
"We believe RRR is executing on its development projects and operationally on a same-store basis and will continue to benefit from a very strong macro back drop in Las Vegas," writes DeCree.
DeCree keeps a Hold rating and price target of $27 on Red Rock, saying "we believe the market has been efficient in valuing this one given its lack of complexity."
"Las Vegas as a whole had a very good 4Q18, but if RRR can maintain this pace of operational performance going forward, we believe there could be upside to our estimates and price target," he notes.
Previously: Red Rock Resorts EPS of $0.11 (Feb. 12)
Previously: Las Vegas results lift Red Rock Resorts (Feb. 12)
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