become a $100 stock<\/a>, notes investor sentiment on Las Vegas is \u201cincredibly negative,\u201d and that’s weighing on the stock. However, he said Reeg and team delivered a compelling case for the strength of the Strip portfolio.<\/span><\/p>\n<\/div>\nOn yesterday’s conference call, Reeg said it’s still in the plans to sell a Strip asset, though that timeline could be extended to 18 months from the original forecast of a year after closing the takeover.<\/span><\/strong><\/p>\nFocusing on Cash<\/span><\/h2>\nSomething investors will be clamoring for going forward is Caesars rejuvenating free cash flow (FCF) while reducing a debt burden that stood at $14.7 billion at the end of June.<\/span><\/p>\nBeynon, the Macquarie analyst, said he’s confident management can drive $800 million in cost savings, and that there are deleveraging opportunities in the form of selling a Strip venue, as well as three gaming properties in Indiana.<\/span><\/p>\nWieczynski, the Stifel analyst, said its possible management exceeds the $800 million cost-cut target and that it’s encouraging $10 or more in per share FCF is in play.<\/span><\/p>\nHe reiterated a \u201cbuy\u201d rating on Caesars stock, with a $63 price target, while Beynon reissued an \u201coutperform\u201d call with a $60 forecast. The shares closed around $37 today<\/strong>.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"Caesars Entertainment (NASDAQ:CZR) delivered its first earnings update as the largest US gaming company Thursday after the close of US markets. As expected, the June quarter numbers were dreadful because of the coronavirus shutdown, prompting analysts to focus more on management commentary. Some members of the sell-side community liked what Caesars CEO Tom Reeg and […]<\/p>\n","protected":false},"author":46,"featured_media":144162,"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 Earns Rave Reviews From Some Wall Street Analysts<\/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