NEW YORK, Jan 9, 2026, 10:34 EST — Regular session
- Caesars Entertainment shares were down about 1% in morning trading, a day after jumping 9%.
- Susquehanna upgraded the casino operator and raised its price target to $31.
- Investors are now looking to Caesars’ Feb. 17 results for any signs of a turnaround in Las Vegas and regional demand.
Caesars Entertainment, Inc. shares were off about 1.1% at $24.80 in morning trading on Friday, after starting out higher and seesawing between $24.54 and $26.05.
The retreat follows a 9% jump on Thursday, when the stock beat casino and gaming peers including MGM Resorts, DraftKings and Las Vegas Sands even as the broader market was mostly flat. The move matters because Caesars remains well below its 52-week high near $40, leaving the shares sensitive to fresh shifts in opinion as investors reposition ahead of earnings season.
Susquehanna upgraded Caesars to “Positive” from “Neutral” and lifted its price target to $31 from $25, GuruFocus reported, citing analyst Joseph Stauff. A price target is a broker’s estimate of where a stock could trade over the next 12 months. GuruFocus
In a separate note, Investing.com said Susquehanna called Caesars an “attractive risk/reward set-up” and said earnings estimates could start to rise. The brokerage flagged a possible boost in the regional business as promotions normalize, and said Caesars’ high leverage could amplify gains if results improve; it put net leverage — a debt measure that compares net debt to earnings — at 5.2 times excluding capitalized rent.
After a choppy week, traders have some cleaner levels to lean on: Caesars closed at $23 on Wednesday after a 3.2% drop, then ripped higher on Thursday and faded again on Friday. Short-term investors looking for follow-through after Thursday’s burst are likely to focus on the stock’s failure to hold above $26 early on Friday.
Still, the upgrade comes with an obvious risk: if consumer demand cools or competitive discounting remains intense, the “turn” Susquehanna is betting on may not hit the numbers fast enough. Caesars’ leverage can work against it, too, when the tape gets nervous.
Caesars’ next hard catalyst is its fourth-quarter and full-year results, due Feb. 17 after the market closes. A conference call follows at 5 p.m. Eastern time.
In the meantime, investors will be watching for any read-throughs on Las Vegas group and convention demand, regional promotional intensity, and whether Caesars can deliver steadier margins into 2026. The real test comes Feb. 17.
