Stifel analyst Steven Wieczynski raised the firm’s price target on Eldorado Resorts (ERI) to $60 from $42 and keeps a Buy rating on the shares. The stock closed Friday down $2.45 to $36.15. The analyst still sees 65%-plus upside in the shares after positively revising out year estimates based on a stronger margin profile. Eldorado remains Stifel’s top idea across as Wieczynski still believes the company will be a “triple-digit stock at some point in the not too distant future.” The analyst has more conviction in management’s Caesars (CZR) synergy opportunity as well as the free cash flow potential of the combined entity. Further, believes he’s being conservative around some of his core margin and sports betting and internet gaming assumptions.
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