Caesars isn\u2019t the only leisure stock that KeyBanc downgraded today. Nor is it the only gaming name the research firm has reservations about.<\/p>\n
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The bank trimmed price targets on Boyd Gaming (NYSE:BYD), Churchill Downs (NASDAQ:CHDN), and Red Rock Resorts (NASDAQ:RRR). Boyd goes to $70 from $78, while Churchill moves to $280 from $300 and Red Rock drops to $45 from $60.<\/p>\n<\/div>\n
Deutsche Bank analyst Carlo Santarelli cuts price forecasts on Boyd and Red Rock, as well as Golden Entertainment (NASDAQ:GDEN). All three are heavily dependent on the Las Vegas locals market, which Santarelli says touched its cyclical peak, but \u201cremains healthy.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"
Caesars Entertainment (NASDAQ:CZR) is dealing with a downgrade today, as another research firm cites macroeconomic risks as a potential drag on leisure stocks. In a note to clients, KeyBanc analyst Brett Andress downgrades Caesars to \u201csector weight\u201d from \u201coverweight,\u201d while broadly recommending reduced exposure to gaming equities. Andress stops short of calling for a sequel […]<\/p>\n","protected":false},"author":46,"featured_media":221071,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[62,10],"tags":[],"acf":[],"yoast_head":"\n
Caesars Suffers Downgrade As KeyBanc Sees Macro Pressures Building<\/title>\n\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\n\n\t\n\t\n\t\n