Monarch trades at rich valuations<\/a> relative to its peers, it commands those premiums due to strong fundamentals. This includes 100 percent ownership of its real estate, meaning it has limited fixed costs and strong free cash flow prospects.<\/p>\nWhat’s Next for Monarch<\/h2>\n
Some of Farahi’s duties will shift to Michelle Shriver, who’s joining Monarch as corporate vice president of operations.<\/p>\n
“During her tenure with Ameristar, Ms. Shriver also helped oversee the ~$300M expansion of Ameristar Black Hawk and has deep experience and relationships in the Black Hawk market,\u201d says Stifel analyst Jeffrey Stantial.<\/p>\n
Stantial reiterates a \u201cbuy\u201d rating and an $84 price target on Monarch. That implies upside of about 29 percent from the Aug. 25 close.<\/strong><\/p>\n\u201cCoupled with MCRI’s full real estate ownership, peer-low net leverage, and healthy operating markets, we see opportunity for shares to re-rate higher as visibility into the ‘new normal’ improves. Hence, we reiterate Buy,\u201d said the analyst.<\/p>\n","protected":false},"excerpt":{"rendered":"
Shares of Monarch Casino & Resort (NASDAQ:MCRI) are holding up well this week as investors digest news of COO David Farahi’s departure from the gaming company. The Reno-based operator made the announcement Tuesday, noting Farahi is leaving on Sept. 3 to pursue business endeavors outside of gaming. He joined Monarch in 2012 and was instrumental […]<\/p>\n","protected":false},"author":46,"featured_media":184016,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[62,33810],"tags":[],"acf":[],"yoast_head":"\n
Monarch Casino & Resort Still Liked by Analysts After Farahi Departure<\/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