Why Caesars Entertainment Stock Could Zoom 73% Higher
Starting Monday morning's predictions off with a bang, self-described "boutique investment bank" Union Gaming set a new $100 price target for casino company Caesars Entertainment (NASDAQ: CZR) and issued a research note highlighting the enterprise's potential. Since Caesars opened at $57.80, this bold forecast represents a 73% predicted upside for the stock, as reported by Seeking Alpha.
The background to the prediction lies in Caesars' $3.7 billion acquisition of William Hill (OTC: WIMHY), a sports betting company based in London but with major operations in the U.S. as well. The two companies already share a joint venture, and Caesars held a 20% interest in William Hill's American branch even before the announced acquisition.
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Source Fool.com
