Wells Fargo lowered the firm’s price target on Caesars (CZR) to $53 from $58 and keeps an Overweight rating on the shares following quarterly results. The firm notes Q3 EBITDAR was -1% vs its and Street’s estimates, reflecting downside LV/Regionals and some offset from upside Digital. Wells’ key takeaway was that the regional EBITDAR inflection it had hoped for may not occur in 2025, but free cash flow/share remains strong.
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