UPDATE: JPMorgan Starts Golden Entertainment (GDEN) at Overweight

October 25, 2021 4:11 AM EDT
Get Alerts GDEN Hot Sheet
Price: $46.19 +5.53%

Rating Summary:
    8 Buy, 0 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 8 | Down: 8 | New: 71
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(Updated - October 25, 2021 4:32 AM EDT)

JPMorgan analyst Omar Sander initiates coverage on Golden Entertainment (NASDAQ: GDEN) with a Overweight rating and a price target of $60.00.

The analyst comments "Our favorable view reflects: (1) GDEN’s exposure to the Nevada market (90% of 2019 EBITDA), the most attractive gaming market in the country given a low tax rate, limited supply growth, and population migration to Nevada (top-five population growth state); (2) the company emerging from COVID-19 as a higher-quality business with refined labor and marketing opex driving higher EBITDA/margins; (3) positively inflecting free cash flow given lower leverage levels that should lead to capital return, and (4) attractive valuation with shares trading at a wider discount to peers than its historical delta."

For an analyst ratings summary and ratings history on Golden Entertainment click here. For more ratings news on Golden Entertainment click here.

Shares of Golden Entertainment closed at $48.73 yesterday.


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