Stifel raised the firm’s price target on Caesars (CZR) to $63 from $58 and keeps a Buy rating on the shares. When looking at Caesars’ core operations, the firm would say “there is nothing to get overly excited about in the near-term.” However, with peak capital spending coming to an end, non-core asset optionality still in play, and a Digital business that is finally starting to inflect, free cash flow generation is going to rapidly improve moving forward and the firm believes there is further upside to come as it believes the long-term free cash flow generation “remains grossly undervalued,” the analyst tells investors.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
