Caesars price target lowered to $49 from $55 at Raymond James

Raymond James analyst RJ Milligan lowered the firm’s price target on Caesars (CZR) to $49 from $55 and keeps a Strong Buy rating on the shares. Caesars on Tuesday announced the addition of two new independent directors to its board after coming to an agreement with Icahn Enterprises (IEP), the analyst tells investors in a research note. The firm says that while the agreement points to collaboration, it will increase pressure on management to take more decisive actions to maximize shareholder value in its digital business, which is a positive, but with digital EBITDA still ramping, doesn’t expect any dramatic moves from management such as a sale or spin until “some time in 2026.”