Bally’s price target raised to $14 from $11 at Stifel

Stifel raised the firm’s price target on Bally’s to $14 from $11 and keeps a Hold rating on the shares. Bally’s reported a 4% Q1 adjusted EBITDAR miss, while reiterating FY24 guidance, notes the analyst, who sees “little in results or commentary impacting out-year estimates or our thesis.” The firm, which adds that it “would rather risk being too late than too early, given a levered balance sheet, uncertain outlook for regional gaming, & regulatory risks,” reiterates a Hold rating and notes that its 2024/25 adjusted EBITDAR estimates “remain intact.”