Monarch Casino & Resort (MCRI) PT Raised to $90 at Jefferies

Jefferies analyst David Katz raised the price target on Monarch Casino & Resort (NASDAQ: MCRI) to $90.00 (from $88.00) while maintaining a Hold rating.

The analyst comments "MAS traded flattish after an in-line 4Q & mixed ’25 outlook. Plumbing guidance (+0-3% topline vs +3% cons) considers 1H sales/margin declines as demand remains choppy; we also expect MAS’s lower-ticket product mix to lag somewhat. Recent tariffs should impact 2Q price/cost, although supply chain mitigation efforts take hold thereafter, and MAS expects positive FY price/cost. D.A. sales are expected to be flattish Y/Y ex-M&A, with margin expansion in 1H on the margin-accretive Kichler divestiture; Pro Paint sales guidance (+MSD% vs +HSD% comp) assumes continued outperformance vs DIY (-LSD% vs -HSD% comp) which is seeing a slower than expected recovery. In our view the positives (stronger D.A. margins of 19.0-19.5% vs 18.7% cons, resilience in Pro Paint, positive Plumbing price/cost, conviction on navigating tariffs) are roughly balanced by sluggish Plumbing demand (4Q vols -1%), soft DIY Paint activity, and premium valuation (12.3x NTM EBITDA vs ~11x 5-yr avg)."

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