JPMorgan Starts Caesars Entertainment (CZR) at Overweight

JPMorgan initiates coverage on Caesars Entertainment (NASDAQ: CZR) with a Overweight rating and a price target of $16.00.

Analyst Dan Politzer has a favorable view on the business for the following five reasons:

1. ongoing Las Vegas Strip room renovations which ought to boost ADR and improve the mix of customers,
2. stable fundamentals in Las Vegas along with domestic gaming consumer support's the company's Total Rewards hubs,
3. opportunity for improve margins at regional properties due to more efficient marking/promotional spend,
4. nearly $10 billion pipeline of real estate assets which could potential be monetized or sold to gaming REITs, and
5. the attractive valuation at 9x 2019 EBITDAR relative to other 12.5x for destination resorts.

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 $12.45 yesterday.

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