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Bank of America Reiterates Underperform on Caesars Entertainment on Updated Valuation, SOTP

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In a report published Thursday, Bank of America analyst Shaun C. Kelley reiterated an Underperform rating and $11.00 price target on Caesars Entertainment Corp. (NASDAQ: CZR).

In the report, Bank of America noted, “Caesars is moving toward the distribution of subscription rights for ‘CAC' through which shareholders have the right to invest in Caesars Growth Partners (CGP) by exchanging that right for $8.64 in cash. Below we update our sum-of-the-parts for CGP and our model for recent deals but maintain our Underperform and $11 PO.”

Caesars Entertainment Corp. closed on Wednesday at $20.40.

Latest Ratings for CZR

DateFirmActionFromTo
Nov 2020Morgan StanleyDowngradesOverweightEqual-Weight
Oct 2020Morgan StanleyMaintainsOverweight
Sep 2020Deutsche BankMaintainsBuy

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Posted-In: Bank of America Shaun C. KelleyAnalyst Color Reiteration Analyst Ratings

Latest Ratings

StockFirmActionPT
IPARDA DavidsonMaintains50.0
ASANPiper SandlerUpgrades33.0
WORKPiper SandlerDowngrades45.0
CRMPiper SandlerMaintains278.0
PRGKeyBancInitiates Coverage On65.0
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