Famously media-shy Monarch Casino Resorts CEO John Farahi emerged to meet with Truist Securities analyst Barry Jonas in Denver, Colorado. The gist of their conversation was published in a September 22 investor note.
Jonas’s two leading takeaways were that Monarch’s Reno holdings were outperforming the market and that, while it was early in the going of Monarch Black Hawk, it “should still outpace the market as the best-in-class property.”
Management’s new focus, Jonas continued, is on mergers and acquisitions. He noted that Monarch shares are up 30 percent since January, reiterating a “Buy” rating and $120-per-share price target. Monarch stock was trading at $102.23 per share at the time of Jonas’s report…