GDEN - Roth Capital sees huge upside for Golden Entertainment with catalysts in play

Golden Entertainment ([[GDEN]] +4.7%) trades higher after Roth Capital turns starts off coverage with a Buy rating. Analyst David Bain calls for a "significant" Q3 earnings beat out of the casino operator and expects upward revisions to consensus marks for 2020-2022. Bain also points to short-term catalysts for GDEN. "William Hill, undergoing shareholder approval for a change of control, is contracted to pay GDEN up to ~$75mm upon merger close, or $2.67 per share of value. Further, GDEN, one of six casino license holders in MD, is poised to benefit from the likely approval of sports betting in November, worth at least ~$1.60 per share to GDEN, in our view." Roth's price target of $26 on GDEN is well above the average Wall Street PT of $18.50 and reps almost 100% upside for shares.

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Roth Capital sees huge upside for Golden Entertainment with catalysts in play