GDEN - Golden Entertainment bulls point to upside with cash flow Nevada portfolio

Golden Entertainment (NASDAQ:GDEN) is defended by analysts after the casino company missed consensus marks with its Q1 earnings report even though it reported solid revenue (+14%) and EBITDA growth (+13%). B Riley Financial analyst David Bain (Buy rating, price target $75) maintained that investors undervalue GDEN’s Nevada portfolio, which he said is benefiting from wealth migration to the area, increased home values, increased travel, increasing convention traffic and augmenting entertainment/events. "Overall, we believe the GDEN thesis matches today’s equity sentiment seeking lower-risk, visible cash flow growth," he noted. Jefferies analyst David Katz (Buy rating) said there is little surprise in the solid quarter delivered by GDEN and noted that commentary from management on revenue and margin trends were largely in line with peers. "Fundamentals remain robust, setting up well for growth in Distributed business and NV Casino Resorts. Overall, the thesis on GDEN remains uncomplicated. With productive cash flow, deleveraging

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Golden Entertainment bulls point to upside with cash flow, Nevada portfolio