Truist lowered the firm’s price target on Caesars (CZR) to $30 from $32 and keeps a Buy rating on the shares after its Q3 EBITDA miss. Las Vegas summer weakness and low hold impacted results, but an expected group recovery for Q4 remains on pace with leisure trends seen as the main unknown, the analyst tells investors in a research note. Caesars has been a challenging stock to own, but the firm sees risk reward skewed positive at this valuation, Truist added.
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