David Katz, an analyst from Jefferies, maintained the Buy rating on Caesars Entertainment (CZR – Research Report). The associated price target remains the same with $50.00.
David Katz has given his Buy rating due to a combination of factors, including the recent strategic board additions from Icahn Enterprises, which are seen as a positive development for Caesars Entertainment. The inclusion of Jesse Lynn and Ted Papapostolou is expected to bring valuable insights and potentially unlock value, especially in the digital segment of the business.
Furthermore, Katz highlights the potential upside in Caesars’ digital operations, which, despite being underappreciated, could significantly contribute to the company’s earnings once its trajectory is established. The involvement of Carl Icahn, known for his efficiency in value capture, adds confidence in the potential for share price appreciation. Additionally, the company’s strong brand and loyalty program position it well in the digital space, aligning with consumer trends towards mobile and land-based engagement.
According to TipRanks, Katz is a 4-star analyst with an average return of 7.1% and a 43.97% success rate. Katz covers the Consumer Cyclical sector, focusing on stocks such as DraftKings, MGM Resorts, and Caesars Entertainment.
In another report released on March 6, Barclays also maintained a Buy rating on the stock with a $54.00 price target.
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