Macquarie Upgrades Caesars Entertainment (CZR) to Outperform, "Rebuilding Rome"

Macquarie upgraded Caesars Entertainment (NASDAQ: CZR) from Neutral to Outperform with a price target of $13.00 (from $10.00).

The analyst believes the company has been overlooked by investors for too long. Aside from the recent news related to the company's debt woes, the analyst reminds clients that CZR remains in the top 5 for global gaming companies when it comes to EBITDA generation and the company places within the top 10 for market value.

Furthermore the analyst believes the company will emerge from bankruptcy in the late summer of 2017 at which point the company could "activate" some Las Vegas real estate through sale-lease back.

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 $9.55 yesterday.

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