{"id":172999,"date":"2021-05-07T09:43:34","date_gmt":"2021-05-07T16:43:34","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=172999"},"modified":"2021-06-30T10:28:09","modified_gmt":"2021-06-30T17:28:09","slug":"golden-stock-soars-as-analyst-rapidly-revises-price-target","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/golden-stock-soars-as-analyst-rapidly-revises-price-target\/","title":{"rendered":"Golden Entertainment Stock Shines Way to New Highs"},"content":{"rendered":"

Golden Entertainment (NASDAQ:GDEN) is soaring Friday, adding to an already blistering pace of recent gains. That’s after an analyst swiftly upped his price target on the Strat operator.<\/p>\n

\"Golden
Outside the Strat Las Vegas. Operator Golden Entertainment is soaring today. (Image: Pinterest)<\/figcaption><\/figure>\n

In a note to clients today, B. Riley analyst David Bain reiterates a \u201cbuy\u201d rating, while upping his price forecast on Golden to $60 from $48. Analysts issuing the same grades on stocks with updated price estimates is an everyday occurrence in financial markets. But it’s noteworthy in this case because it was barely more than a week ago<\/a> when Bain initiated coverage on the casino operator<\/a> with a $48 projection.<\/p>\n

We believe shares are staged to significantly reset higher, with 2023 enterprise value\/earnings before interest, taxes, depreciation and amortization (EBITDA) 6.4x versus peers at 10x and a free cash flow (FCF) per share valuation less than half comparables,\u201d said the analyst.<\/p><\/blockquote>\n

Gaming equities are broadly higher Friday, but Golden is the standout. In midday trading, it’s higher by 15.55 percent on volume that’s already nearly double the daily average. Bain’s new price target implies upside of almost 68 percent from where the casino stock closed on Thursday.<\/p>\n

Going with Golden Stock<\/h2>\n

Las Vegas-based Golden operates 10 casinos<\/a>, nine of which are in Southern Nevada, including the Strat. That venue generated record EBITDA in the first quarter.<\/p>\n

\n

While the operator has a heavy footprint in its home state, it’s not dependent on Strip traffic and trends. Rather, it’s more levered to the fast-recovering Las Vegas locals (LVL) segment and favorable demographic trends, such as the influx of retirees from cold-weather states to Nevada, and Californians fleeing high taxes.<\/p>\n<\/div>\n

For investors, those points are relevant because, as Bain points out, the LVL market accounts for 85 percent of Golden’s EBITDA. Even with that significant percentage, the analyst argues the operator’s locals exposure is \u201cunderappreciated\u201d by the investment community.<\/p>\n

\u201cLVL and regional play is benefiting from near-term and long-term drivers, including increasing capacity allowances and the vaccine rollout working a return of a core older demographic,\u201d<\/strong> said Bain.<\/p>\n

Golden: ‘More Special’<\/h2>\n

Owing to impressive margin expansion, rising vaccination levels, and pent-up demand, there’s no shortage of enthusiasm for regional gaming equities<\/a>. However, no two operators are exactly alike, and there are clear reasons, in Bain’s view, why Golden is a standout among regional names.<\/p>\n

\u201cEven more unique to GDEN is its Nevada offerings acutely match a higher income\/wealth migration from California, particularly its millennial-anchored bar and tavern distributed gaming business,\u201d said the B. Riley analyst. \u201cFurther, the introduction of the Raiders, new Strip capacity, and strong housing values correlate to make GDEN’s portfolio more ‘special’ than other regional casino companies, in our view.\u201d<\/p>\n

Almost $15 currently isn’t factored into the Golden stock price, according to Bain. That breakdown comes by way of $10 for potential approval of its Pennsylvania route business and $4.60 for the $1.2 billion worth of unused Las Vegas real estate owned by the company.<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Golden Entertainment (NASDAQ:GDEN) is soaring Friday, adding to an already blistering pace of recent gains. That’s after an analyst swiftly upped his price target on the Strat operator. In a note to clients today, B. Riley analyst David Bain reiterates a \u201cbuy\u201d rating, while upping his price forecast on Golden to $60 from $48. Analysts […]<\/p>\n","protected":false},"author":46,"featured_media":173000,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[62,10],"tags":[],"acf":[],"yoast_head":"\nGolden Stock Soars as Analyst Rapidly Revises Price Target<\/title>\n<meta name=\"description\" content=\"Golden stock rockets higher after analyst David Bain quickly revises his price target to the upside.\" \/>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Golden Stock Soars as Analyst Rapidly Revises Price Target\" \/>\n<meta property=\"og:description\" content=\"Golden stock rockets higher after analyst David Bain quickly revises his price target to the upside.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/golden-stock-soars-as-analyst-rapidly-revises-price-target\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2021-05-07T16:43:34+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-06-30T17:28:09+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/05\/strat.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1022\" \/>\n\t<meta property=\"og:image:height\" content=\"860\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Todd Shriber\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@etfgodfather\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Todd Shriber\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/golden-stock-soars-as-analyst-rapidly-revises-price-target\/\",\"url\":\"https:\/\/www.casino.org\/news\/golden-stock-soars-as-analyst-rapidly-revises-price-target\/\",\"name\":\"Golden Stock Soars as Analyst Rapidly Revises Price Target\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/golden-stock-soars-as-analyst-rapidly-revises-price-target\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/golden-stock-soars-as-analyst-rapidly-revises-price-target\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/05\/strat.jpg\",\"datePublished\":\"2021-05-07T16:43:34+00:00\",\"dateModified\":\"2021-06-30T17:28:09+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85\"},\"description\":\"Golden stock rockets higher after analyst David Bain quickly revises his price target to the upside.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/golden-stock-soars-as-analyst-rapidly-revises-price-target\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/golden-stock-soars-as-analyst-rapidly-revises-price-target\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/golden-stock-soars-as-analyst-rapidly-revises-price-target\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/05\/strat.jpg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/05\/strat.jpg\",\"width\":1022,\"height\":860,\"caption\":\"Outside the Strat Las Vegas. Operator Golden Entertainment is soaring today. (Image: Pinterest)\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.casino.org\/news\/golden-stock-soars-as-analyst-rapidly-revises-price-target\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"News\",\"item\":\"https:\/\/www.casino.org\/news\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Financial\",\"item\":\"https:\/\/www.casino.org\/news\/financial\/\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"Golden Entertainment Stock Shines Way to New Highs\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.casino.org\/news\/#website\",\"url\":\"https:\/\/www.casino.org\/news\/\",\"name\":\"Casino.org\",\"description\":\"Latest Casino and Gaming News\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.casino.org\/news\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85\",\"name\":\"Todd Shriber\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/03\/cropped-11-96x96.png\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/03\/cropped-11-96x96.png\",\"caption\":\"Todd Shriber\"},\"description\":\"Todd Shriber is a senior news reporter covering gaming financials, casino business, stocks, and mergers and acquisitions for Casino.org. Todd got his start in financial markets as a reporter with Bloomberg News. Later, he became a trader at a Southern California-based long\/short hedge fund, where he specialized in the trading sector and international ETFs leading up to and during the financial crisis. He joined Casino.org in 2019. Currently, Todd analyzes, researches, and writes on ETFs for various web-based publications and financial services firms. Shriber has been featured and quoted in Barron's, CNBC.com, and The Wall Street Journal. His work can also be found on Benzinga, ETF Daily News, ETF Trends, MarketWatch, Fox Business, and Nasdaq.com. He currently resides in Las Vegas, where he enjoys golf and taking his black lab to the dog park. He's also an avid sports fan and likes to wager on college football and the NBA. You can also find him at the three-card poker and roulette table, even though he knows better. Contact Todd at todd.shriber@casino.org.\",\"sameAs\":[\"https:\/\/muckrack.com\/todd-shriber\",\"https:\/\/www.linkedin.com\/in\/toddshriber\/\",\"https:\/\/x.com\/etfgodfather\"],\"url\":\"https:\/\/www.casino.org\/news\/author\/todd-shriber\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Golden Stock Soars as Analyst Rapidly Revises Price Target","description":"Golden stock rockets higher after analyst David Bain quickly revises his price target to the upside.","robots":{"index":"noindex","follow":"follow"},"og_locale":"en_US","og_type":"article","og_title":"Golden Stock Soars as Analyst Rapidly Revises Price Target","og_description":"Golden stock rockets higher after analyst David Bain quickly revises his price target to the upside.","og_url":"https:\/\/www.casino.org\/news\/golden-stock-soars-as-analyst-rapidly-revises-price-target\/","og_site_name":"Casino.org","article_publisher":"https:\/\/www.facebook.com\/Casino.OrgNews","article_published_time":"2021-05-07T16:43:34+00:00","article_modified_time":"2021-06-30T17:28:09+00:00","og_image":[{"width":1022,"height":860,"url":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/05\/strat.jpg","type":"image\/jpeg"}],"author":"Todd Shriber","twitter_card":"summary_large_image","twitter_creator":"@etfgodfather","twitter_site":"@Casino_Org","twitter_misc":{"Written by":"Todd Shriber","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.casino.org\/news\/golden-stock-soars-as-analyst-rapidly-revises-price-target\/","url":"https:\/\/www.casino.org\/news\/golden-stock-soars-as-analyst-rapidly-revises-price-target\/","name":"Golden Stock Soars as Analyst Rapidly Revises Price Target","isPartOf":{"@id":"https:\/\/www.casino.org\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.casino.org\/news\/golden-stock-soars-as-analyst-rapidly-revises-price-target\/#primaryimage"},"image":{"@id":"https:\/\/www.casino.org\/news\/golden-stock-soars-as-analyst-rapidly-revises-price-target\/#primaryimage"},"thumbnailUrl":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/05\/strat.jpg","datePublished":"2021-05-07T16:43:34+00:00","dateModified":"2021-06-30T17:28:09+00:00","author":{"@id":"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85"},"description":"Golden stock rockets higher after analyst David Bain quickly revises his price target to the upside.","breadcrumb":{"@id":"https:\/\/www.casino.org\/news\/golden-stock-soars-as-analyst-rapidly-revises-price-target\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.casino.org\/news\/golden-stock-soars-as-analyst-rapidly-revises-price-target\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.casino.org\/news\/golden-stock-soars-as-analyst-rapidly-revises-price-target\/#primaryimage","url":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/05\/strat.jpg","contentUrl":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/05\/strat.jpg","width":1022,"height":860,"caption":"Outside the Strat Las Vegas. Operator Golden Entertainment is soaring today. (Image: Pinterest)"},{"@type":"BreadcrumbList","@id":"https:\/\/www.casino.org\/news\/golden-stock-soars-as-analyst-rapidly-revises-price-target\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"News","item":"https:\/\/www.casino.org\/news\/"},{"@type":"ListItem","position":2,"name":"Financial","item":"https:\/\/www.casino.org\/news\/financial\/"},{"@type":"ListItem","position":3,"name":"Golden Entertainment Stock Shines Way to New Highs"}]},{"@type":"WebSite","@id":"https:\/\/www.casino.org\/news\/#website","url":"https:\/\/www.casino.org\/news\/","name":"Casino.org","description":"Latest Casino and Gaming News","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.casino.org\/news\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85","name":"Todd Shriber","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.casino.org\/news\/#\/schema\/person\/image\/","url":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/03\/cropped-11-96x96.png","contentUrl":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/03\/cropped-11-96x96.png","caption":"Todd Shriber"},"description":"Todd Shriber is a senior news reporter covering gaming financials, casino business, stocks, and mergers and acquisitions for Casino.org. Todd got his start in financial markets as a reporter with Bloomberg News. Later, he became a trader at a Southern California-based long\/short hedge fund, where he specialized in the trading sector and international ETFs leading up to and during the financial crisis. He joined Casino.org in 2019. Currently, Todd analyzes, researches, and writes on ETFs for various web-based publications and financial services firms. Shriber has been featured and quoted in Barron's, CNBC.com, and The Wall Street Journal. His work can also be found on Benzinga, ETF Daily News, ETF Trends, MarketWatch, Fox Business, and Nasdaq.com. He currently resides in Las Vegas, where he enjoys golf and taking his black lab to the dog park. He's also an avid sports fan and likes to wager on college football and the NBA. You can also find him at the three-card poker and roulette table, even though he knows better. Contact Todd at todd.shriber@casino.org.","sameAs":["https:\/\/muckrack.com\/todd-shriber","https:\/\/www.linkedin.com\/in\/toddshriber\/","https:\/\/x.com\/etfgodfather"],"url":"https:\/\/www.casino.org\/news\/author\/todd-shriber\/"}]}},"_links":{"self":[{"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/posts\/172999"}],"collection":[{"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/users\/46"}],"replies":[{"embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/comments?post=172999"}],"version-history":[{"count":0,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/posts\/172999\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/media\/173000"}],"wp:attachment":[{"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/media?parent=172999"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/categories?post=172999"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/tags?post=172999"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}