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EVRI

Everi Holdings

$10.64

0.58 (5.77%)

, FLL

Full House Resorts

$2.26

0.12 (5.61%)

04:55
05/15/19
05/15
04:55
05/15/19
04:55

Wells Fargo to hold a conference

Gaming, Hospitality & Leisure Conference 2019 will be held in Las Vegas on May 14-15.

EVRI

Everi Holdings

$10.64

0.58 (5.77%)

FLL

Full House Resorts

$2.26

0.12 (5.61%)

GLPI

Gaming and Leisure Properties

$39.52

-0.2 (-0.50%)

MCRI

Monarch Casino

$41.86

0.54 (1.31%)

PENN

Penn National

$19.92

0.12 (0.61%)

AGS

PlayAGS

$20.59

0.3 (1.48%)

PYX

Pyxus

$18.15

1.67 (10.13%)

SGMS

Scientific Games

$20.81

0.22 (1.07%)

VICI

VICI Properties

$22.24

-0.21 (-0.94%)

GDEN

Golden Entertainment

$14.02

0.01 (0.07%)

HGV

Hilton Grand Vacations

$27.61

0.45 (1.66%)

MGM

MGM Resorts

$25.95

0.58 (2.29%)

BYD

Boyd Gaming

$25.98

-0.05 (-0.19%)

CZR

Caesars

$9.09

0.22 (2.48%)

TAST

Carrols Restaurant

$8.68

0.06 (0.70%)

ERI

Eldorado Resorts

$46.47

0.31 (0.67%)

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EVRI Everi Holdings
$10.64

0.58 (5.77%)

02/11/19
RHCO
02/11/19
INITIATION
Target $9
RHCO
Buy
Everi Holdings initiated with a Buy at SunTrust
SunTrust analyst Barry Jonas initiated Everi Holdings with a Buy and $9 price target citing valuation and competitive position in slot gaming and casino cash access services. The analyst notes that the stock trades at 6.4-times his expected EBITDA for 2019 vs. the 7- to 9-times multiple for its gaming peers and 7- to-15-times for payment peers. Jonas adds that the "logic of combining a FinTech and Games company is debatable", but believes the market undervalues Everi, which offers the "2nd best EBITDA growth" in his gaming technology coverage.
02/11/19
RHCO
02/11/19
INITIATION
Target $9
RHCO
Buy
Everi Holdings initiated with a Buy at SunTrust
SunTrust initiated Everi Holdings with a Buy and $9 price target.
02/11/19
02/11/19
INITIATION

Fly Intel: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Everi Holdings (EVRI) initiated with a Buy at SunTrust. 2. ChemoCentryx (CCXI) initiated with an Overweight at Piper Jaffray. 3. Regions Financial (RF) initiated with a Neutral at Credit Suisse. 4. Talos Energy (TALO) initiated with a Buy at Guggenheim. 5. MicroStrategy (MSTR) initiated with a Buy at BWS Financial. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
03/13/19
JEFF
03/13/19
NO CHANGE
Target $13
JEFF
Buy
Everi shares not getting credit for 'earnings cadence,' says Jefferies
Everi Holdings' earnings report reflects the continuation of the "earnings cadence" of the past several quarters, for which the shares appear to receive little credit, Jefferies analyst David Katz tells investors in a research note. He boosted his price target for the shares to $13 from $12 and keeps a Buy rating on the name. The analyst expects both of Everi's business units will continue to grow, while the company's free cash accelerates and leverage falls. In the near term, the market should "more fully recognize" the earnings momentum and value opportunity in the shares, says Katz.
FLL Full House Resorts
$2.26

0.12 (5.61%)

09/20/18
ROTH
09/20/18
INITIATION
Target $4.5
ROTH
Buy
Full House Resorts initiated with a Buy at Roth Capital
Roth Capital analyst David Bain initiated Full House Resorts with a Buy rating and $4.50 price target, as he forecasts 2019 adjusted EBITDA growth of 21%, which tops peer growth of 7%, and sees significant potential upside in its scheduled and potential casino projects.
GLPI Gaming and Leisure Properties
$39.52

-0.2 (-0.50%)

04/15/19
STFL
04/15/19
UPGRADE
STFL
Buy
Gaming and Leisure Properties upgraded to Buy from Hold at Stifel
04/15/19
STFL
04/15/19
UPGRADE
Target $43
STFL
Buy
Gaming and Leisure Properties upgraded to Buy from Hold at Stifel
Stifel is transferring coverage of Gaming and Leisure Properties to analyst Simon Yarmak, who is upgrading his rating to Buy from Hold and raising his price target to $43 from $39. The analyst notes that after the multiple on the REIT has grown by 1.7-times year-to-date, the company "can now make accretive acquisitions at these levels" and believes that it can "sustain long-term growth." Yarmak adds that while finding attractively valued names in the triple-net lease gaming sector is "difficult" following its relative outperformance last year and a strong start to 219, he notes that Gaming and Leisure Properties' valuation of 11.5-times forward AFFO is in-line with its 5-year average of 11.6-times.
12/17/18
MSCO
12/17/18
NO CHANGE
MSCO
North American REIT sector upgraded to In-Line at Morgan Stanley
Morgan Stanley analysts led by Richard Hill upgraded their sector view for North American REITs to In-Line from Cautious, noting that REIT growth is stabilizing and more appropriately priced, the setup for the sector relative to the broader market is favorable and the defensive characteristics of the group in a slowing economy. Calling the sector upgrade a "relative, not an absolute call," the analyst team identified CyrusOne (CONE), Essex Property Trust (ESS), Gaming and Leisure Properties (GLPI), Hudson Pacific (HPP), Prologis (PLD), Regency Centers (REG), SBA Communications (SBAC) and Store Capital (STOR) as their top picks.
03/20/19
FBCO
03/20/19
INITIATION
Target $41
FBCO
Outperform
Gaming and Leisure Properties assumed with an Outperform at Credit Suisse
Credit Suisse analyst Ben Combes assumed coverage of Gaming and Leisure Properties with an Outperform rating and $41 price target.
MCRI Monarch Casino
$41.86

0.54 (1.31%)

07/25/18
JEFF
07/25/18
UPGRADE
Target $48
JEFF
Hold
Monarch Casino upgraded to Hold from Underperform at Jefferies
Jefferies analyst David Katz upgraded Monarch Casino & Resort to Hold and raised his price target for the shares to $48 from $42. The company is establishing a higher earnings base a full year from the Black Hawk project, Katz tells investors in a research note. The analyst expects Monarch's earnings to "catch up with the high-end multiple" and for the stock to perform in-line with the peer group.
03/06/19
UGAM
03/06/19
DOWNGRADE
UGAM
Hold
Monarch Casino downgraded to Hold on vauation at Union Gaming
Union Gaming downgraded Monarch Casino to Hold from Buy citing valuation.
PENN Penn National
$19.92

0.12 (0.61%)

05/09/19
MSCO
05/09/19
NO CHANGE
Target $27
MSCO
Overweight
Morgan Stanley upgrades Penn National on gaming demand, sports betting
As previously reported, Morgan Stanley analyst Thomas Allen upgraded Penn National to Overweight from Equal Weight, citing his view that regional gaming growth rate of 3% seen since 2017 is sustainable in the forseeable future given consumer confidence near highs, unemployment near lows and wage gains forecast for low and middle income earners. He also sees Penn as a "meaningful beneficiary" of the state-by-state rollout of legal sports betting given that it is in the most states of any casino company, Allen tells investors. Given his increased 2020 estimates, Allen raised his price target on Penn National shares to $27 from $25. The stock was also upgraded this morning by BofA Merrill Lynch analyst Shaun Kelley to Buy from Neutral.
05/09/19
BOFA
05/09/19
UPGRADE
Target $25
BOFA
Buy
BofA/Merrill upgrades Penn National to Buy on stable core, upcoming catalysts
As previously reported, BofA Merrill Lynch analyst Shaun Kelley upgraded Penn National to Buy from Neutral, stating that its core consumer remains stable while he believes that catalysts such as the relaunch of MyChoice and sports betting are being underappreciated by investors. Kelley, citing slightly more conservative estimates and relative valuation, trimmed his price target on Penn National shares to $25 from $27.
05/09/19
BOFA
05/09/19
UPGRADE
Target $25
BOFA
Buy
Penn National upgraded to Buy from Neutral at BofA/Merrill
BofA/Merrill analyst Shaun Kelley upgraded Penn National Gaming to Buy from Neutral while lowering his price target for the shares to $25 from $27.
05/09/19
05/09/19
UPGRADE

Fly Intel: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Atlassian (TEAM) upgraded to Buy from Neutral at Goldman Sachs with Heather Bellini saying consensus billings expectations for Q4 of $361M, or up 30% year-over-year, appear conservative. 2. Match Group (MTCH) upgraded to Neutral from Sell at Goldman Sachs with 3ith analyst Michael Ng stating that the positive stock reaction to Match's in-line Q1 revenue and EBITDA results illustrate the market is more focused on the longer-term investment thesis. 3. Protagonist Therapeutics (PTGX) upgraded to Buy from Hold at Stifel with analyst Adam Walsh saying yhe expansion of the deal between Protagonist and Janssen for PTG-200 and other IL-23 receptor antagonists brings large pharma validation to the former's oral peptide platform. 4. Penn National (PENN) upgraded to Buy from Neutral at BofA/Merrill with analyst Shaun Kelley stating that its core consumer remains stable and he believes catalysts such as the relaunch of MyChoice and sports betting are being underappreciated by investors. 5. Ferrari (RACE) upgraded to Overweight from Equal Weight at Morgan Stanley with analyst Adam Jonas noting the company's better than expected Q1 results and saying he has higher conviction in the company's strategy. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
AGS PlayAGS
$20.59

0.3 (1.48%)

11/16/18
JEFF
11/16/18
NO CHANGE
JEFF
Jefferies sees long-term investment opportunities in Gaming
The "profound weakness" in Gaming stocks has created dislocation which presents long-term investment opportunities, Jefferies analyst David Katz tells investors in a research note titled "'Buy On Weakness' Is Not Enough." The analyst says his "broad view" of asset value, leadership execution and capital structure risk lead to him focus on his top picks, Eldorado Resorts (ERI) and International Game Technology (IGT). He also has Buy ratings on Boyd Gaming (BYD), PlayAGS (AGS) and Everi Holdings (EVRI).
04/08/19
ROTH
04/08/19
INITIATION
Target $35
ROTH
Buy
PlayAGS initiated with a Buy at Roth Capital
Roth Capital analyst David Bain started coverage of PlayAGS with a Buy rating and a $35 price target. The analyst believes PlayAGS offers visible peer-high growth with significant upside optionality anchored by a top-tier management team. With over 70% of its revenue recurring, peer-high margins, ample white space opportunity and significant underrepresentation in all but a fraction of gaming machine markets, Bain believes PlayAGS is staged for outsized earnings growth for several years.
03/20/19
FBCO
03/20/19
INITIATION
Target $35
FBCO
Outperform
PlayAGS assumed with an Outperform at Credit Suisse
Credit Suisse analyst Ben Combes assumed coverage of PlayAGS with an Outperform rating and $35 price target.
04/08/19
04/08/19
INITIATION

Fly Intel: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Ardelyx (ARDX) initiated with an Overweight at Piper Jaffray. 2. Parker Drilling (PKD) initiated with an Outperform at Imperial Capital. 3. Frontdoor (FTDR) initiated with a Buy at Guggenheim. 4. Barnes & Noble Education (BNED) initiated with a Buy at Needham. 5. PlayAGS (AGS) initiated with a Buy at Roth Capital. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
PYX Pyxus
$18.15

1.67 (10.13%)

SGMS Scientific Games
$20.81

0.22 (1.07%)

03/20/19
FBCO
03/20/19
INITIATION
Target $21
FBCO
Underperform
Scientific Games assumed with an Underperform at Credit Suisse
Credit Suisse analyst Ben Combes assumed coverage of Scientific Games with an Underperform rating and $21 price target.
12/14/18
JEFF
12/14/18
NO CHANGE
Target $22
JEFF
Hold
Jefferies sees 'mixed reaction' to Scientific Games shares from settlement
Scientific Games' $151.5M settlement of litigation with Shuffle Tech removes an overhang that has weighed on the stock over the past four months, albeit at the cost of the company's near term financial position and free cash flow generation, Jefferies analyst David Katz tells investors in a research note. Overall, the settlement provides clarity from a range of outcomes, which included the potential for no cash payment, says the analyst. As such. Katz expects a "mixed reaction" in the stock and keeps a Hold rating on Scientific Games with a $22 price target.
05/08/19
DBAB
05/08/19
NO CHANGE
Target $22
DBAB
Hold
Scientific Games price target lowered to $22 from $26 at Deutsche Bank
Deutsche Bank analyst Carlo Santarelli lowered his price target for Scientific Games to $22 from $26 saying that while the headline Q1 numbers were in-line, the company's performance was mixed, and broadly boosted by some lottery hardware sales in the period, which masked softness in other segments. The analyst keeps a Hold rating on the shares.
11/16/18
JEFF
11/16/18
DOWNGRADE
Target $22
JEFF
Hold
Scientific Games downgraded to Hold from Buy at Jefferies
Jefferies analyst David Katz downgraded Scientific Games to Hold and cut his price target for the shares to $22 from $46. The changes at the company, some of which are of its own doing and some not, have "compiled to exacerbate the market-driven pressure on the shares," Katz tells investors in a research note. Scientific Games changed CEOs, lost a lawsuit which it expects to appeal, lost a significant systems contract and the high yield market has tightened on higher interest rates, which could mitigate the opportunity to refinance its 10% debt, says the analyst. He believes the pressure from these events is not likely to reverse in the near term. Overhangs, uncertainties and leverage "warrant a more conservative stance," says Katz.
VICI VICI Properties
$22.24

-0.21 (-0.94%)

04/09/19
EVER
04/09/19
INITIATION
Target $26
EVER
Outperform
VICI Properties initiated with an Outperform at Evercore ISI
Evercore ISI analyst Rich Hightower initiated VICI Properties with an Outperform and $26 price target telling investors it represents the most compelling risk-return opportunities within his REIT coverage universe. Hightower said VICI's income streams include longer lessee duration, superior internal and external growth opportunities, rent coverage and tenant transparency.
04/24/19
JEFF
04/24/19
INITIATION
Target $27
JEFF
Buy
VICI Properties initiated with a Buy at Jefferies
Jefferies analyst David Katz started VICI Properties with a Buy rating and $27 price target. The company's path forward is "clearly positive" as the merits of gaming real estate investment trusts "become clearer and the cross-pollination of leisure and entertainment real estate ownership evolves," Katz tells investors in a research note. The analyst believes VICI's business could prove to be 40% larger over time which should flow through to dividend growth.
04/08/19
RHCO
04/08/19
NO CHANGE
Target $27
RHCO
Buy
SunTrust raised VICI Properties price target to $27 after JACK Cincinnati deal
SunTrust analyst Barry Jonas nudged his price target on VICI Properties higher to $27 from $26 and kept his Buy rating after its announced agreement to acquire the real estate assets of JACK Cincinnati from JACK Entertainment for $558M. The analyst views the transaction positively, adding 4% of FFO accretion while also diversifying the company's tenant and geographic exposure.
03/20/19
FBCO
03/20/19
INITIATION
Target $24
FBCO
Outperform
VICI Properties initiated with an Outperform at Credit Suisse
Credit Suisse analsyt Ben Combes reinstated VICI Properties with an Outperform and $24 price target.
GDEN Golden Entertainment
$14.02

0.01 (0.07%)

10/04/18
DBAB
10/04/18
INITIATION
DBAB
Buy
Golden Entertainment initiated with a Buy at Deutsche Bank
10/11/18
DBAB
10/11/18
NO CHANGE
DBAB
Buy
Golden Entertainment shares remain undervalued, says Deutsche Bank
Deutsche Bank analyst Danny Valoy left a meeting with Golden Entertainment management positive on the trajectory of the Stratosphere's renovation. He believes the property's gap to market opportunity, with RevPAR around 40% below the Las Vegas market and 50% below the Las Vegas Strip, could yield "significant EBITDA growth in time." Shares of Golden Entertainment remain undervalued, Valoy tells investors in a research note. He keeps a Buy rating on the name.
10/05/18
DBAB
10/05/18
INITIATION
Target $40
DBAB
Buy
Golden Entertainment initiated with a Buy at Deutsche Bank
Deutsche Bank analyst Danny Valoy last night initiated coverage of Golden Entertainment with a Buy rating and $40 price target. The analyst believes investments in the existing portfolio and a "solid" pipeline of acquisition targets across all business segments will continue to drive the company's growth. He believes the current 20% free cash flow yield represents a favorable risk/reward.
03/15/19
DBAB
03/15/19
NO CHANGE
Target $22
DBAB
Buy
Golden Entertainment price target lowered to $22 from $38 at Deutsche Bank
Deutsche Bank analyst Carlo Santarelli lowered his price target for Golden Entertainment to $22 from $38 after the company's adjusted EBITDA in Q4 came in $7M light of his estimate. While "certainly disappointing," Golden Entertainment's go-forward story does not change much as the Stratosphere renovations remains underway and on budget, there was positive news on the Nevada route operations, and the company bought ~$20M of its stock at an average price of $16.06 in Q4 and instituted a new authorization this month, Santarelli tells investors in a post-earnings research note. He keeps a Buy rating on the shares.
HGV Hilton Grand Vacations
$27.61

0.45 (1.66%)

03/20/19
FBCO
03/20/19
INITIATION
Target $37
FBCO
Outperform
Hilton Grand Vacations initiated with an Outperform at Credit Suisse
Credit Suisse analyst Ben Combes assumed coverage of Hilton Grand Vacations with an Outperform rating and $37 price target.
05/03/19
JPMS
05/03/19
DOWNGRADE
Target $30
JPMS
Neutral
Hilton Grand Vacations downgraded to Neutral from Overweight at JPMorgan
JPMorgan analyst Brandt Montour downgraded Hilton Grand Vacations to Neutral from Overweight and lowered his price target for the shares to $30 from $36. The analyst sees increased risk to the company's sales visibility.
03/01/19
RHCO
03/01/19
NO CHANGE
Target $51
RHCO
Buy
Hilton Grand Vacations price target raised to $51 from $44 at SunTrust
SunTrust analyst C. Patrick Scholes raised his price target on Hilton Grand Vacations to $51 and kept his Buy rating, rolling forward his valuation model to 2020 under the assumption of unchanged 11.4-times forward EBITDA estimate multiple. The analyst forecasts "strong" EBITDA growth over the next few years driven by Net Owner Growth and new sales centers in Hilton Head and Washington DC, which recently saw contract sales growth of 40%.
05/03/19
JPMS
05/03/19
DOWNGRADE
Target $30
JPMS
Neutral
JPMorgan downgrades Hilton Grand Vacations on structural inventory issues
JPMorgan analyst Brandt Montour downgraded Hilton Grand Vacations to Neutral from Overweight and lowered his price target for the shares to $30 from $36. The recent drag on timeshare sales from a shortage of certain inventory types is a structural, company-specific headwind, Montour tells investors in a research note. The analyst believes this "increases volatility in an already volatile business." He does not see sentiment on Hilton Grand Vacations shares improving until the inventory availability issues are resolved and the company decides to pursue a more efficient inventory sourcing model.
MGM MGM Resorts
$25.95

0.58 (2.29%)

01/08/19
JPMS
01/08/19
NO CHANGE
Target $38
JPMS
Overweight
MGM Resorts added to Analyst Focus List at JPMorgan
JPMorgan analyst Joseph Greff added MGM Resorts to his firm's Analyst Focus List saying he sees an increasingly favorable setup for 2019. The analyst raised his price target for the shares to $38 from $35 and keeps an Overweight rating on the name. He sees a combination of relatively low expectations in Las Vegas, improving operations/efficiencies and an attractive valuation.
01/18/19
MSCO
01/18/19
NO CHANGE
MSCO
Overweight
Morgan Stanley prefers Las Vegas to Macau in gaming entering 2019
Morgan Stanley analyst Thomas Allen said he is confident that the Las Vegas outlook is better than perceived after Q4 appears to have shown a meaningful rebound, noting also that his convention tracker supports strong 2019 demand growth and that flight capacity to the market is growing. Meanwhile, as a firm, Morgan Stanley has cut its Macau market gaming revenue outlook and industry view, Allen noted. Combining his Las Vegas outlook and bullish stance on regional U.S. gaming, Allen called MGM Resorts (MGM) and Caesars (CZR) his preferred large cap gaming stocks entering 2019, stating that he believes expectations for both are beatable. He reiterates Overweight ratings on both, as well as on Las Vegas Sands (LVS), and keeps an Equal Weight rating on Wynn Resorts (WYNN).
03/20/19
FBCO
03/20/19
INITIATION
Target $30
FBCO
Neutral
MGM Resorts assumed with a Neutral at Credit Suisse
Credit Suisse analyst Ben Combes assumed coverage of MGM Resorts with a Neutral rating and $30 price target.
03/06/19
MSCO
03/06/19
NO CHANGE
MSCO
Morgan Stanley raises Macau casino operator targets on higher mass forecast
Morgan Stanley analyst Thomas Allen said that Morgan Stanley is increasingly bullish that China's policy stimulus is working as a firm, adding that he now expects Macau gross gaming revenue to grow 1% in 2019, up from his prior forecast for a 2% decline. Underpinning that improved view, he has raised his mass market growth forecast to 7% from 2%, citing accelerated visitation growth following the HKZM bridge opening as well as the firm's currency strategists' call for the CNY to continue to appreciate against the USD. While he still has an "in-line" view on Macau, Allen raised his price target on Las Vegas Sands (LVS) to $66 from $64, his target on Wynn (WYNN) to $130 from $122 and his target on MGM Resorts (MGM) to $35 from $34. Allen added that Las Vegas Sands remains his preferred play on Macau, as he thinks the Street is wrong in assuming it will lose market share.
BYD Boyd Gaming
$25.98

-0.05 (-0.19%)

12/20/18
MSCO
12/20/18
UPGRADE
MSCO
Overweight
Boyd Gaming upgraded to Overweight from Equal Weight at Morgan Stanley
12/20/18
12/20/18
UPGRADE
Target $31

Overweight
Morgan Stanley more bullish on regional gaming, ups Boyd Gaming to Overweight
As previously reported, Morgan Stanley analyst Thomas Allen upgraded Boyd Gaming to Overweight from Equal Weight, noting that despite a healthy fundamental backdrop for consumers the stock is trading below its long-term average multiple. Given that his firm's economists expect a healthy consumer backdrop in 2019, along with a record level of tax refunds, he has become more bullish on U.S. regional Gaming, Allen tells investors. He believes the market has overreacted to leverage concerns and he sees upside to 2019 EBITDA estimates for Boyd, he added. However, Allen lowered his price target on Boyd shares to $31 from $35.
01/11/19
STFL
01/11/19
UPGRADE
Target $33
STFL
Buy
Boyd Gaming upgraded to Buy from Hold at Stifel
Stifel analyst Steven Wieczynski upgraded Boyd Gaming to Buy while lowering his price target for the shares to $33 from $37. The analyst views the recent multiple contraction across the Gaming & Leisure operators group as "misguided." After stress testing his model for Boyd Gaming and taking a more conservative approach to out year estimates, the analyst says he's still able to "identify a compelling enough upside case to support an upgrade." Wieczynski sees an "outsized opportunity" for cost-driven margin improvement across the Boyd portfolio. Successful execution of the company's "multi-faceted capital allocation" should accelerate the re-rating in the shares' trading multiple, says the analyst.
CZR Caesars
$9.09

0.22 (2.48%)

01/16/19
BOFA
01/16/19
DOWNGRADE
Target $9
BOFA
Neutral
Caesars downgraded to Neutral following rally at BofA/Merrill
BofA/Merrill analyst Shaun Kelley downgraded Caesars to Neutral from Buy and lowered its price target to $9. Kelley is using the rally year-to-date in shares to downgrade saying he is more cautious longer-term towards Las Vegas pricing power and growth.
03/20/19
JPMS
03/20/19
NO CHANGE
Target $60
JPMS
Overweight
Eldorado shares could be worth $72-$80 with Caesars deal, says JPMorgan
JPMorgan analyst Daniel Politzer estimates that an Eldorado Resorts (ERI) acquisition of Caesars Entertainment (CZR) could generate $300M in synergies, imply a valuation of $72-$80 per share, and be ~50% accretive on a free cash flow per share basis. Reuters reported over the weekend that the two companies are in merger talks. The analyst's scenario contemplates Eldorado acquiring Caesars for $10.50 per share, or a 23% premium to last night's close, with the offer consisting of $6.25 in cash and $4.25 worth of stock. Politzer keeps an Overweight rating on Eldorado Resorts with a $60 price target.
03/20/19
FBCO
03/20/19
INITIATION
Target $13
FBCO
Outperform
Caesars assumed with an Outperform at Credit Suisse
Credit Suisse analyst Ben Combes assumed coverage of Caesars with an Outperform rating and $13 price target.
TAST Carrols Restaurant
$8.68

0.06 (0.70%)

09/18/18
SPHN
09/18/18
NO CHANGE
SPHN
Overweight
Stephens highlights Red Robin, BJ's Restaurants as restaurant M&A candidates
Stephens analyst Will Slabaugh issued his yearly look at restaurants that he views as the most attractive takeover candidates, highlighting Red Robin (RRGB), BJ's Restaurants (BJRI), Carrols Restaurant (TAST), Chuy's (CHUY) and Papa Murphy's (FRSH) as the names at the top of his potential M&A list. The analyst said the highest profile deals in the space in the last twelve months included Buffalo Wild Wings, which he noted was one of six he highlighted in his 2017 potential takeout targets list. Slabaugh has Overweight ratings on four of the five stocks highlighted, with an Equal Weight rating on only Chuy's.
05/08/19
SPHN
05/08/19
NO CHANGE
Target $16
SPHN
Overweight
Carrols Restaurant has room for outperformance, says Stephens
Stephens analyst Will Slabaugh kept his Overweight rating and $16 price target on Carrols Restaurant, saying that while the company's Q1 earnings missed consensus and FY19 guidance was lower than expected, the quarter "masks" the "likely inflection" in 2020. The analyst contends that Carrols Restaurant's discounting will subside throughout the year and also believes that the Cambridge acquisition adds scale, anticipating the synergies to become more visible by the end of this year or early next year.
08/13/18
SPHN
08/13/18
NO CHANGE
Target $45
SPHN
Equal Weight
Stephens 'encouraged' to see better momentum in Brinker's traffic trends
Stephens analyst Will Slabaugh maintained an Equal Weight rating and $45 price target on Brinker International (EAT) ahead of the company's earnings report on Tuesday, telling investors that while he is "encouraged" to see better momentum in recent traffic trends, he is keeping the rating until he is more comfortable that recent initiatives are translating into a sustained traffic improvement. The analyst says Restaurant Brands (QSR), Carrols (TST) and Wendy's (WEN) remain his favorite names in quick-service and BJ's Restaurants (BJRI) among casuals.
02/20/19
SPHN
02/20/19
NO CHANGE
Target $18
SPHN
Overweight
Carrols Restaurant transformative deal a 'clear positive,' says Stephens
After Carrols Restaurant announced a deal to acquire 166 Burger King and 55 Popeyes restaurants from Cambridge Franchise Holdings, Stephens analyst Will Slabaugh called the agreement a "clear positive." He likes the large and accretive nature of the deal and also likes that it give Carrols a platform to develop a second fast-growing QSR brand. The analyst, who said he would be a buyer on today's news, kept an Overweight rating and $18 price target on Carrols Restaurant shares ahead of the company's conference call.
ERI Eldorado Resorts
$46.47

0.31 (0.67%)

01/18/19
JPMS
01/18/19
NO CHANGE
Target $60
JPMS
Overweight
JPMogan sees favorable setup for shares of Eldorado Resorts
JPMorgan analyst Daniel Politzer believes shares of Eldorado Resorts have "one of the easiest paths to move higher from current levels." He sees consensus estimates as beatable and highlights the company's "track record of execution" as well as its opportunity for acquisition-related synergies. Politzer expects Eldorado will continue to generate "strong" EBITDAR growth through 2020, and sees a "reasonable path" to over $800M of EBITDAR from its existing portfolio of assets. The analyst reaffirms an Overweight rating on the shares with a $60 price target, implying 40% upside.
11/26/18
JEFF
11/26/18
NO CHANGE
Target $57
JEFF
Buy
Partnership with The Stars Group positive for Eldorado Resorts, says Jefferies
Jefferies analyst David Katz views Eldorado Resorts (ERI) announced partnership with The Stars Group (TSG) as a strategic positive for the former, which is now receiving tangible value for its providing access to its licenses, both through the current announcement as well as with William Hill US. It is also positioned positively with both land-based and online partners to participate in the growth of sports betting and online gaming, as it becomes economically more meaningful, he contends. The analyst expects a modestly positive reaction from Eldorado Resorts' shares, and reiterates a Buy rating and $57 price target on the stock.

TODAY'S FREE FLY STORIES

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General news
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OXY

Occidental Petroleum

$53.49

0.74 (1.40%)

21:25
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Occidental Petroleum rating change at Wells Fargo »

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TIGR

UP Fintech

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Interactive Brokers Group discloses 7.6% stake in UP Fintech »

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TJX

TJX

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Home Depot

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TJX

$52.95

-0.08 (-0.15%)

HD

Home Depot

$190.87

-1.66 (-0.86%)

AZO

AutoZone

$978.78

-5.21 (-0.53%)

KSS

Kohl's

$62.95

-0.68 (-1.07%)

EV

Eaton Vance

$37.27

-0.535 (-1.42%)

JCP

J.C. Penney

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0.01 (0.88%)

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JCOM

j2 Global

$86.48

-0.23 (-0.27%)

20:22
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j2 Global CFO sells 10K shares of common stock »

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ATTO

Atento

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Atento sees FY19 revenue flat to up single digits »

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ATTO

Atento

$3.24

-0.14 (-4.14%)

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Atento reports Q1 recurring EPS (6c), consensus 10c »

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ITCB

Itau Corpbanca

$12.95

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19:38
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Itau Corpbanca dissolves subsidiary Corplegal »

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OCUL

Ocular Therapeutix

$3.36

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Ocular Therapeutix analyst commentary at Piper Jaffray »

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YGYI

Youngevity

$6.57

0.13 (2.02%)

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360 Finance

$16.46

0.71 (4.51%)

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Fly Intel: After Hours Movers »

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Youngevity

$6.57

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360 Finance

$16.46

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ARWR

Arrowhead

$18.94

-0.52 (-2.67%)

TRIP

TripAdvisor

$44.93

-0.07 (-0.16%)

ASNA

Ascena Retail

$1.13

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KR

Kroger

$24.04

-0.18 (-0.74%)

SNAP

Snap

$11.19

-0.3 (-2.61%)

NDSN

Nordson

$130.42

-4.8 (-3.55%)

OCUL

Ocular Therapeutix

$3.36

-0.1 (-2.89%)

SWI

SolarWinds

$19.16

0.04 (0.21%)

MRCY

Mercury Systems

$72.85

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VNE

Veoneer

$18.89

0.02 (0.11%)

GH

Guardant Health

$78.29

2.13 (2.80%)

CVNA

Carvana

$67.17

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INSM

Insmed

$28.08

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VAR

Varian Medical

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TOL

Toll Brothers

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18:47
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Toll Brothers acquires Sharp Residential, terms not disclosed »

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Take-Two

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-3.82 (-3.58%)

18:44
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Take-Two CEO: Our job is to excite customers »

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AAL

American Airlines

$30.96

-0.8 (-2.52%)

18:40
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American Air asks court to halt alleged mechanics unions' slowdown, Reuters says »

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LWAY

Lifeway Foods

$2.75

0.05 (1.85%)

18:38
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Lifeway Foods reports Q1 EPS (2c) vs. 0c last year »

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WHLR

Wheeler REIT

$2.25

0.025 (1.13%)

18:31
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Wheeler REIT chairman John Sweet to resign »

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WMT

Walmart

$101.54

0.66 (0.65%)

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Target

$72.10

1.22 (1.72%)

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Periodicals
Judge says Walmart, Target, Bed Bath must face suits over cotton, Reuters says »

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Walmart

$101.54

0.66 (0.65%)

TGT

Target

$72.10

1.22 (1.72%)

BBBY

Bed Bath & Beyond

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QFIN

360 Finance

$16.46

0.71 (4.51%)

18:02
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360 Finance reports Q1 net income $117.5M, up 382% from last year »

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MRK

Merck

$78.86

0.15 (0.19%)

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Merck falls after Keytruda trial does not meet OS primary endpoint »

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PRIM

Primoris

$20.26

-0.08 (-0.39%)

17:55
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Primoris director sells 99.8K shares of common stock »

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BK

BNY Mellon

$45.97

-0.11 (-0.24%)

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Legg Mason

$35.68

0.295 (0.83%)

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BNY Mellon announces Ed Garden to step down from board of directors »

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BNY Mellon

$45.97

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LM

Legg Mason

$35.68

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DHR

Danaher

$130.33

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17:44
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VP of Danaher Angela Lalor sells over $408K in company shares »

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SPX

S&P 500

$0.00

(0.00%)

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SPDR S&P 500 ETF Trust

$283.95

-2.03 (-0.71%)

17:43
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17:43
Periodicals
Judge dismisses Trump request to block accounting subpoena, WSJ says »

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S&P 500

$0.00

(0.00%)

SPY

SPDR S&P 500 ETF Trust

$283.95

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LM

Legg Mason

$35.68

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17:40
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Legg Mason names Nelson Peltz, Ed Garden to board of directors »

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XYF

X Financial

$5.42

0.1 (1.88%)

17:34
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Earnings
X Financial reports Q1 EPS 24c, consensus 24c »

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