Caesars price target lowered to $54 from $67 at Wells Fargo

Wells Fargo analyst Daniel Politzer lowered the firm’s price target on Caesars to $54 from $67 and keeps an Overweight rating on the shares. For the second straight quarter, EBITDAR missed estimates on a number of one-offs; LV the major culprit with low hold and low volumes, says the firm. Wells recognizes investors’ growing frustration, but with Caesars at 18-month lows and forthcoming balance sheet optionality, it stays Overweight.