and revenue driver for the company<\/a>. On a recent conference call, management did not indicate the COVID-19 outbreak is delaying enhancements at that venue.<\/p>\nOn the acquisition front, Boyer notes some footnotes in Monarch’s earnings release indicate the operator was close to buying a rival in recent months, but ultimately elected to pass on that purchase. However, the combination of the company’s strong balance sheet and depressed stock prices in the industry could compel it to consider acquisitions down the road.<\/p>\n
\u201cAlthough the recent global economic turmoil may compel management to take a pause in its pursuit of additional M&A targets, we continue to believe MCRI\u2019s capital structure flexibility and the generally onerous levels of debt incurred by several of its regional operator peers, favorably positions the company to potentially execute thoughtful and accretive M&A transactions at a future date,\u201d said the analyst.<\/p>\n
Boyer has a \u201chold\u201d rating and $35 price target on Monarch, implying upside of almost 46 percent from Friday’s close.<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"Monarch Casino & Resort (NASDAQ:MCRI) joined other gaming equities in rebounding Friday, soaring 12.58% after an analyst said the stock’s recent slide is the epitome of \u201cthrowing the baby out with the bathwater.\u201d That’s an old Wall Street saying referring to quality stocks that get hit during broader market slides. On Friday, shares of the […]<\/p>\n","protected":false},"author":46,"featured_media":129838,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[62,10],"tags":[],"acf":[],"yoast_head":"\n
Monarch Casino Rallies After Analyst Endorses the Stock<\/title>\n\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\n\n\t\n\t\n\t\n