Shares of Monarch Casino & Resort (MCRI) are soaring 20.39% in pre-market trading on Thursday, following the company's announcement of record second-quarter results for 2025 and a series of positive analyst actions. The impressive financial performance and subsequent upgrades have fueled investor enthusiasm, driving the stock to significant gains.

The casino operator's strong Q2 performance has prompted several brokerages to revise their outlook on the stock. Truist Securities led the charge by raising its price target on Monarch Casino & Resort to $120 from $105, while maintaining a Buy rating. Stifel followed suit, increasing its target price to $92 from $81. In a notable move, Wells Fargo upgraded the stock to Equal Weight from Underweight and raised its price target to $89 from $83, further boosting investor confidence.

While specific details of the Q2 earnings were not provided, the market's reaction and analyst upgrades suggest that Monarch Casino & Resort's performance significantly exceeded expectations. The company's ability to deliver record results in the current economic climate has positioned it favorably within the competitive casino and resort industry. As investors digest the strong quarterly figures and positive analyst sentiment, Monarch Casino & Resort appears well-positioned for continued growth, reflected in the stock's substantial pre-market rally.