And finally third, general doom and gloom around certain states seeing an increase in virus cases and the potential for new shutdowns,\u201d said the analyst. \u201cThose concerns won\u2019t help any regional gaming company, as the fear will be an employee gets the virus, then infects the rest of the employee base, then the property has to be shut down.\u201d<\/span><\/p><\/blockquote>\nHe points out the new Caesars has $3 billion in liquidity, giving it a cushion of 10 to 11 months to survive in a zero-revenue environment.<\/span><\/strong><\/p>\nStill a Top Idea<\/span><\/h2>\nTrading around $30, Caesars stock resides at its lowest levels in two months. But Wieczynski said his long-term view of the name hasn’t changed, that it still has triple-digit potential, and that it’s the top pick in Stifel’s gaming coverage universe.<\/span><\/p>\n\u201cAs we have said before, there will clearly not be a linear path to triple-digit land, given there will continue to be some rocky trading patterns in the near-term until the COVID-19 noise\/overhang dissipates,\u201d he said.<\/span><\/p>\nThe analyst acknowledges that his $60 price estimate, a double from current levels, includes \u201cconservative\u201d assumptions about the company’s iGaming and sports betting units.<\/span><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"Shares of Caesars Entertainment (NASDAQ:CZR) are off about 25 percent since the acquisition creating the gaming Goliath was finalized earlier this month. But one analyst views the weakness as an opportunity for long-term investors to get involved with the name. In a new note to clients, Stifel analyst Steven Wieczynski said there are some overhangs […]<\/p>\n","protected":false},"author":46,"featured_media":143041,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[62,10],"tags":[],"acf":[],"yoast_head":"\n
Caesars Stock Is Struggling, But Analyst Sees Big Upside Ahead<\/title>\n\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\n\n\t\n\t\n\t\n