Caesars price target lowered to $62 from $70 at Truist

Truist lowered the firm’s price target on Caesars to $62 from $70 and keeps a Buy rating on the shares. The company reported record Q3 EBITDAR that was ahead of estimates thanks to a beat in Regionals, while Vegas grew vs. last year and Digital was profitable, the analyst tells investors in a research note. The firm adds however that its price target cut reflects a more “conservative land-based growth” as it cuts its FY24 EBITDA view to $4.17B from $4.33B.