B of A Securities Upgrades Red Rock Resorts to Neutral, Lowers Price Target to $55
Portfolio Pulse from Benzinga Newsdesk
B of A Securities analyst Shaun Kelley upgrades Red Rock Resorts (RRR) from Underperform to Neutral and lowers the price target from $57 to $55.

May 13, 2024 | 10:30 am
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NEUTRAL IMPACT
Red Rock Resorts was upgraded from Underperform to Neutral by B of A Securities, though its price target was reduced from $57 to $55.
The upgrade to Neutral suggests a more favorable outlook on RRR by B of A Securities, potentially leading to increased investor interest. However, the reduction in the price target could temper optimism, indicating a cautious view on the stock's valuation. The net effect in the short term is likely neutral, as the positive impact of the upgrade may be offset by the lowered price target.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100