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Fly News Breaks for November 19, 2019
CZR, ERI
Nov 19, 2019 | 08:44 EDT
Morgan Stanley analyst Thomas Allen initiated coverage of Eldorado Resorts (ERI) with an Overweight rating and $65 price target, stating that he is confident in both the medium-term outlook for U.S. gaming and the company's ability to grow pro forma EBITDAR to greater than $4B in 2021. He also has faith in management's ability to deliver on synergies following a series of increasingly large acquisitions that culminated with the agreement to buy Caesars Entertainment (CZR) in June, Allen tells investors.
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