Deutsche Bank Resumes Caesars Entertainment (CZR) at Hold, Slashes Target to $6

November 6, 2012 6:59 AM EST Send to a Friend
Get Alerts CZR Hot Sheet
Price: $10.36 --0%

Rating Summary:
    0 Buy, 3 Hold, 5 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 11 | Down: 17 | New: 16
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Deutsche Bank resumes coverage on Caesars Entertainment (NASDAQ: CZR) with a Hold and cuts its price target to $6 from $16.

The firm comments, "We continue to find several aspects of the CZR story compelling, namely; 1) leverage to an accelerating LV recovery, 2) the operating leverage inherent in CZR’s LV and regional operations, 3) a steady stream of low risk high reward development opportunities, and 4) a leading position in the event the U.S. legalizes online gaming. That said, given our view of risks (debt levels, deferred spend, development execution, and competition), we see shares as fairly valued at present. Our Hold rating is unchanged."

For an analyst ratings summary and ratings history on Caesars Entertainment click here. For more ratings news on Caesars Entertainment click here.

Shares of Caesars Entertainment closed at $5.79 yesterday.

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