Caesars price target lowered to $57 from $58 at JPMorgan

JPMorgan lowered the firm’s price target on Caesars (CZR) to $57 from $58 and keeps an Overweight rating on the shares. The firm tweaked its Q4 Las Vegas Strip EBITDAR estimate to $485M, down from $499M, based on mid-single digit gaming volume declines, overall relatively normal table hold of 22%, and margins that are down 40 points quarter-over-quarter to 44.0%.