Analyst Lance Vitanza of TD Cowen maintained a Buy rating on Caesars Entertainment, retaining the price target of $40.00.
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Lance Vitanza has given his Buy rating due to a combination of factors influencing Caesars Entertainment’s performance. Despite the third quarter results falling short of expectations, primarily due to lower-than-anticipated performance in Las Vegas and Digital segments, there are positive indicators for the future.
The temporary softness in Las Vegas is expected to improve as group bookings are on the rise for the fourth quarter. Additionally, the Regional markets are showing strong momentum, and the company’s refined marketing strategies are anticipated to support free cash flow growth. Furthermore, the company’s advancements in digital growth, technology upgrades, and a cautious approach to prediction markets enhance confidence in the fiscal year 2026 outlook, with trends suggesting a robust conclusion to fiscal year 2025.
Vitanza covers the Communication Services sector, focusing on stocks such as Clear Channel Outdoor, Liberty Media Liberty Formula One, and TKO Group Holdings. According to TipRanks, Vitanza has an average return of 23.2% and a 46.33% success rate on recommended stocks.
In another report released today, Barclays also maintained a Buy rating on the stock with a $39.00 price target.