The Recession Cometh for Caesars
July 20th, 2022 at 4:21:31 AM
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Two headlines, right next to each other, in MarketWatch (a CBS fin-news website):
"Caesars Entertainment stock price target cut to $63 from $113 at Stifel Nicolaus"
"Street Notes Caesars Stock Is Still a Buy, Even Pricing in a Recession, Analyst Says"
CZR closed on 7/18 at $41.79.
The GDPNow forecast from the Atlanta Fed was for 1.6% GDP _shrinkage_. If that holds true (and official numbers come out on 28 July) then the US would be officially in a recession.
Analysts are taking a chainsaw to Caesar's growth possibilities over the next year, Gonna be a rough one for the casinos. Even more pressure to dry up the marketing goodies. Sigh.
"Caesars Entertainment stock price target cut to $63 from $113 at Stifel Nicolaus"
"Street Notes Caesars Stock Is Still a Buy, Even Pricing in a Recession, Analyst Says"
CZR closed on 7/18 at $41.79.
The GDPNow forecast from the Atlanta Fed was for 1.6% GDP _shrinkage_. If that holds true (and official numbers come out on 28 July) then the US would be officially in a recession.
Analysts are taking a chainsaw to Caesar's growth possibilities over the next year, Gonna be a rough one for the casinos. Even more pressure to dry up the marketing goodies. Sigh.
