Caesars price target lowered to $27 from $28 at Susquehanna

Susquehanna lowered the firm’s price target on Caesars (CZR) to $27 from $28 and keeps a Neutral rating on the shares. The firm feels its low-cost casino model continues to leak value given a Las Vegas product that has no pricing power and reliant on Las Vegas macro trends; a regional portfolio that has significant deferred capex where the gap in quality vs. competitors is only growing and likely un-able to fix; and a digital asset that seems to finally be turning but is too small to carry this ship.