Wells Fargo Starts Caesars Entertainment (CZR) at Equal Weight

Wells Fargo analyst Daniel Politzer initiates coverage on Caesars Entertainment (NASDAQ: CZR) with a Equal Weight rating and a price target of $21.00.

The analyst comments "We initiate coverage of CZR at Equal Weight with a $21 PT based on 6.3x our '26E EBITDA est. of $2.261b, which translates to ~6.9x EV/EBITDAR and ~8.5x EV/UFCF. We foresee a wide range of stock outcomes given CZR's leverage profile. Leverage works in both directions. The high debt burden at CZR presents binary outcomes for the stock. Our Bull case uses 2026E consensus EBITDA and a +0.75x increase in our target EV/EBITDA multiple results in 80%+ upside to CZR current price. However, any degradation of the multiple given the company's current 4.7x leverage drives significant downside risk. Our bear case of $11/sh is derived from a ~10% lower EBITDA estimates and a -0.25x lower multiple representing -40%+ downside."

For an analyst ratings summary and ratings history on Caesars Entertainment click here. For more ratings news on Caesars Entertainment click here.

Shares of Caesars Entertainment closed at $19.78 yesterday.

You May Also Be Interested In

• Q32 Bio Inc. (QTTB) PT Raised to $36 at Mizuho
• Kenvue Must Face Autism Suits, Appeals Court Says - Bloomberg
• SpaceX (SPCX) Added to Morgan Stanley Space 60 List, Qorvo (QRVO) Removed