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realfast95

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realfast95

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Wednesday, 01/16/2019 8:58:36 AM

Wednesday, January 16, 2019 8:58:36 AM

Post# of 773
BAML turns cautious on Caesars
Jan. 16, 2019 7:15 AM ET|About: Caesars Entertainment (CZR)|By: Clark Schultz, SA News Editor

Bank of America Merrill Lynch downgrades Caesars Entertainment (NASDAQ:CZR) to a Neutral rating after having the casino stock slotted at Buy.

"Our core thesis of Las Vegas renovation upside is not materializing and we think regional marketing cuts may fade in 2019, while revenue faces rising competition in Atlantic City and promotions in IL and MS," warns analyst Shaun Kelly.

"CZR’s free cash flow conversion and yield (even on a maintenance basis) is also well below peers," he notes.

BAML keeps a price objective of $9 on Caesars.

https://seekingalpha.com/news/3423390-baml-turns-cautious-caesars
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