Bernstein analyst Vitaly Umansky started Caesars with a Market Perform rating and $9.10 price target. The analyst notes that over the last five years, gaming stocks have gone through periods of significant underperformance, followed by significant outperformance. The last six months have been exceptionally difficult for gaming stocks as Macau growth has begun to decelerate following nearly two years of strong growth and Las Vegas has seen unexpected near-term softness, he contends. However, Umansky argues that the gaming space has shown that if investors pick the right market, the right company, at the right time, outsized returns are possible.

Truist lowered the firm's price target on Caesars to $58 from $62 but keeps a Buy rating on the shares as part of a broader research note previewing Q1 earnings in Gaming. The group has underperformed a resilient S&P year-to-date, but consumer discretionary spend - (especially on casino floors - remains sturdy in the face of continued macro uncertainty, the analyst tells investors in a research note. While regional weather impacts and delayed rate cuts have impacted the stocks, the impact is largely priced in at this point, the firm added.