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Investing.com - JMP Securities has reiterated its Market Outperform rating on Caesars Entertainment (NASDAQ:CZR) with a price target of $45.00, representing nearly 50% upside from the current price of $30.35. According to InvestingPro data, analysts maintain a strong buy consensus with price targets ranging from $28 to $62.
The research firm maintained its positive outlook on the casino operator despite potential challenges in the Las Vegas market.
JMP believes regional gaming operations will serve as a key growth driver for Caesars in the coming periods.
The firm also highlighted the company’s online gaming segment as another area expected to contribute positively to overall performance.
These growth factors should effectively counterbalance any headwinds Caesars might face in its Las Vegas operations, according to the research note.
In other recent news, Caesars Entertainment announced the launch of its third branded online casino live dealer studio in Michigan, developed in collaboration with Evolution. This new facility expands Caesars’ live dealer offerings, featuring blackjack, roulette, and baccarat tables, and follows earlier launches in Pennsylvania and New Jersey. In financial updates, CFRA raised its price target for Caesars to $50, citing a stable outlook and maintaining a Hold rating, while noting steady earnings per share estimates for 2025 and 2026. Goldman Sachs initiated coverage with a Buy rating and a $36 price target, highlighting a favorable setup in Las Vegas and expected significant free cash flow generation over the next few years.
Additionally, Caesars implemented a universal digital wallet for its Nevada sportsbook app, enhancing convenience for users across 19 jurisdictions. The wallet allows customers to manage funds and rewards seamlessly, adding value to Caesars’ mobile sports betting platform. JMP Securities maintained a Market Outperform rating with a $45 price target, pointing to potential benefits from new tax legislation for tipped employees, which could positively impact Caesars’ revenue. These developments reflect Caesars’ strategic initiatives and financial positioning as it navigates the evolving gaming landscape.
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