We recently published Wall Street Can’t Keep up With These 10 Stocks on Fire. Caesars Entertainment Inc. (NASDAQ:CZR) was one of the top performers on Thursday.
Caesars Entertainment ended two days of losses on Thursday, jumping 9 percent to finish at $25.07 after earning a price target and rating upgrade from an investment firm.
In a market report, Susquehanna turned bullish for Caesars Entertainment Inc. (NASDAQ:CZR), issuing the latter a “positive” rating versus “neutral” previously, while raising its price target by 24 percent to $31 from $25.
The Caesars Palace. Photo from Caesars Entertainment website
The revision reflected its optimism for Caesars Entertainment Inc. (NASDAQ:CZR) to clock higher earnings in the near future, backed by strong regional operations which account for 40 percent of its value, with the improvement expected to come from normalized promotional spending and other tailwinds such as tax refunds, among others.
Additionally, Susquehanna expects the entertainment firm’s Las Vegas operations to post a sequential improvement amid key factors including a higher group and convention mix which typically benefits the company in the fourth and first quarters of every year.
While Caesars Entertainment Inc. (NASDAQ:CZR) continues to face strategic gaps as compared with premium offerings from its competitors, Susquehanna said that the company, being a largely low-cost operator with high financial leverage, could drive its share prices higher, assuming the expected inflection materializes.
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Disclosure: None. This article is originally published at Insider Monkey.
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‘ Some details of this article were extracted from the following source finance.yahoo.com ’
