Wolfe Research checks in on Caesars Entertainment (CZR +2.2%) after watching shares fall more than 50% from their 52-week high.
"There have been some positive developments like activism, M&A rumors and an offer from Tilman Fertitta, CEO change, and improving industry trends in Las Vegas," writes analyst Jarde Shojaian.
"However, right now there is also still a lot of uncertainty regarding future management, given the announced CEO change with no replacement announced," he adds.
Shares of Caesars have perked up a bit in 2019, up 6% YTD.
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