Caesars Entertainment's Recent Sell-off Regarding Cyber Attacks Generates Compelling Entry Point: Analyst Highlights Multiple Catalysts
Portfolio Pulse from Nabaparna Bhattacharya
Stifel analyst Steven M. Wieczynski has reiterated a Buy rating on Caesars Entertainment, Inc. (NASDAQ:CZR), raising the price target to $80 from $74. The recent sell-off due to cyber-attacks has created a compelling entry point for CZR. The analyst highlights multiple catalysts that should drive shares higher and believes the long-term impact of the cyber-attacks should be minimal. The analyst also raised FY23E EPS to $4.12 from $3.98, with revenues of $11.56 billion.
October 11, 2023 | 6:35 pm
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Stifel analyst reiterates Buy rating on Caesars Entertainment, raising price target to $80. The recent sell-off due to cyber-attacks has created a compelling entry point for CZR.
The analyst's positive outlook and raised price target for CZR, along with the perceived overreaction to the cyber-attacks, suggest a potential upside for the stock.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
The analyst believes CZR fits the profile of MGM Resorts International, suggesting potential long-term growth opportunity.
The comparison to MGM suggests the analyst sees similar potential for growth in CZR, which could positively impact MGM's stock as well.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50