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Wells Fargo Reaffirms Their Hold Rating on Red Rock Resorts (RRR)

Tipranks - Tipranks - Fri Apr 17, 5:27AM CDT

Wells Fargo analyst Trey Bowers maintained a Hold rating on Red Rock Resorts yesterday and set a price target of $83.00. The company’s shares closed yesterday at $56.58.

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Bowers covers the Consumer Cyclical sector, focusing on stocks such as Carnival, Viking Holdings, and DraftKings. According to TipRanks, Bowers has an average return of -4.1% and a 36.54% success rate on recommended stocks.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Red Rock Resorts with a $71.46 average price target, which is a 26.30% upside from current levels. In a report released on April 8, Morgan Stanley also assigned a Hold rating to the stock with a $63.00 price target.

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Based on Red Rock Resorts’ latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $511.78 million and a net profit of $44.66 million. In comparison, last year the company earned a revenue of $495.7 million and had a net profit of $46.59 million

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