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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. Currently trading at $29.42, the stock sits well below the broader analyst target range of $28-$62, according to InvestingPro data.
The firm maintained its positive outlook on the casino and entertainment company in a research note issued Tuesday.
JMP’s price target is based on a blended valuation approach, using 7.7x the firm’s estimated 2026 EBITDA for Caesars.
The valuation model also incorporates 8.6x JMP’s projected 2026 free cash flow for the company.
The reiteration comes as Caesars continues to navigate the competitive landscape in the gaming and hospitality sector. For more detailed insights and additional ProTips on Caesars Entertainment, including comprehensive valuation metrics and financial health scores, check out the full research report on InvestingPro.
In other recent news, Caesars Entertainment has made several notable announcements. The company launched its third branded live dealer studio in Michigan, expanding its online casino offerings in partnership with Evolution. This follows earlier studio launches in Pennsylvania and New Jersey. Additionally, Caesars introduced a universal digital wallet for its Nevada sportsbook app, enhancing customer convenience by allowing fund management across multiple jurisdictions. On the financial front, JMP Securities reiterated its Market Outperform rating for Caesars Entertainment, maintaining a price target of $45.00, while CFRA raised its price target to $50.00, citing a stable outlook for the company. The latter firm based its revised target on a multiple of the 2025 adjusted EBITDA estimate. Furthermore, JMP Securities highlighted potential benefits for Caesars from new tax legislation affecting tipped employees. This legislation permits deductions on a portion of voluntary tips, potentially benefiting the company’s workforce. These developments underscore Caesars Entertainment’s strategic initiatives and its standing in the financial community.
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