Red Rock Resorts

RRR · NASDAQ

$50.28+$0.39 (+0.78%)TodayMarket closed · Oct 20, 4:10 PM ET

Prev close $49.89

RRR analyst rating

BuyConsensus of 17 analysts over the last 12 months. 88% rate it a buy.

Strong buy0
Buy15
Hold2
Underperform0
Sell0

12-month price target · 20 analysts

Average $74.86 (+48.9% upside)

Low: $61.61
Now: $50.28
High: $81.90

Upgrades and downgrades

The latest rating actions, newest first

RRR analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
JP Morgan	Oct 20, 2026	Maintains	Overweight	$72.00 → $71.00	48%
Morgan Stanley	Oct 19, 2026	Maintains	Equal-Weight	$61.00 → $59.00	71%
Wells Fargo	Oct 19, 2026	Maintains	Overweight	$77.00 → $78.00	33%
Citigroup	Oct 12, 2026	Maintains	Buy	$78.00 → $69.00	44%
Barclays	Oct 9, 2026	Maintains	Overweight	$73.00 → $74.00	46%
Macquarie	Oct 7, 2026	Maintains	Outperform	$74.00 → $72.00	40%
Wolfe Research	Sep 2, 2026	Initiates	Outperform	$73.00	53%
Macquarie	Aug 17, 2026	Maintains	Outperform	$72.00 → $74.00	40%
Macquarie	Aug 5, 2026	Maintains	Outperform	$72.00	40%
Citizens	Aug 5, 2026	Maintains	Market Outperform	$69.00 → $71.00	31%

The case for and against

Updated Oct 14, 2026

Bull case

Red Rock Resorts is supported by a durable Las Vegas locals franchise that is delivering record or near-record gaming, food and beverage, and EBITDA performance, with Q1 Las Vegas operations producing the company’s highest net revenue and second highest adjusted EBITDA in history. Despite renovation-related disruption at Green Valley Ranch, Durango, and Sunset Station that pressures 2026 results, management is reinvesting roughly $550M to refresh assets and position them for better traffic, pricing, and higher-end mix, while 2027 is expected to be cleaner with EBITDA growth of 10%. The company’s strong free cash flow generation, leverage expected to decline to 3.6x by 2027E, and a land bank of 7 sites and 450+ acres provide funding capacity and development optionality that support a constructive long-term outlook.

Bear case

Red Rock Resorts is facing a negative setup because 1Q26 EBITDA of $213M missed consensus by 3% as margins fell 113 bps year over year, showing that even stable demand is being offset by operational drag. The main fundamental issue is a more persistent construction disruption profile at Green Valley Ranch and Durango, with roughly $9M of GVR disruption and an additional $2–3M from Durango expected, delaying earnings normalization into later periods. In addition, the company remains fully concentrated in the Las Vegas Locals market, leaving it exposed to macro swings, higher interest rates, and potential regulatory risks that could pressure visitation and earnings.

Information on this page is provided for informational purposes only and is not a recommendation to buy, sell or hold any security. Investing involves risk, including possible loss of principal. Market data is delayed at least 15 minutes and is provided without warranty. Analyst ratings, price targets and company data come from third-party sources. Past performance does not guarantee future results.