Accel Entertainment initiated with a Hold at Truist

Truist analyst Patrick Keough initiated coverage of Accel Entertainment (ACEL) with a Hold rating and $13 price target Accel is the largest and only public route gaming operator and will likely grow faster than other land-based operators in the coming years, the analyst tells investors in a research note. However, the firm expects slowing growth in Illinois, which represents 75% of Accel’s revenue base. The company is “hamstrung by a limited float that prevents investors from taking meaningful ownership,” contends Truist.