UPDATE: Deutsche Bank Resumes Coverage on Caesars Entertainment Corp. with Hold Rating, $14 PT on Updated Earnings Forecast

In a report published Wednesday, Deutsche Bank analyst Greg Poole resumed coverage on Caesars Entertainment Corp.

with a Hold rating and $14.00 price target. In the report, Poole noted, “We are Resuming Coverage of CZR with a Hold Rating and $14 PT. Post an extended restriction, we are updating our earnings forecasts and upping our price target on CZR to $14 from $6. We continue to find several aspects of the CZR story compelling, namely; 1) leverage to an accelerating LV recovery, 2) the operating leverage inherent in CZR's LV and regional operations, 3) a steady stream of low risk high reward development opportunities, and 4) a leading position in the event the U.S. legalizes online gaming. That said, given our view of risks (debt levels, deferred spend, development execution, and competition), we see shares as fairly valued at present. Our Hold rating is unchanged.” Caesars Entertainment Corp. closed on Tuesday at $16.73.