Jefferies raised the firm's price target on Monarch Casino to $124 from $113 and keeps a Hold rating on the shares. Land-based gaming remains the most out-of-favor subsector in the firm's coverage, as medium-term growth algorithms across the Las Vegas Strip and Macau face increasing headwinds, the analyst tells investors in a research note. The firm believes growth in the sector is scarce, though recent M&A suggests potential catalysts ahead.
