Brightstar Lottery price target lowered to $21 from $25 at Susquehanna

Susquehanna lowered the firm’s price target on Brightstar Lottery (BRSL) to $21 from $25 and keeps a Positive rating on the shares. The firm said after two very large catalysts done; Italian Lotto renewal and the close of Gaming sale, they see Brightstar Lottery (formerly IGT) as a pure-play global lottery heavy weight trading at a 2026 EBITDA multiple of 5.3x that excludes any hope of growth. Offsetting this in the near-term will be the company’s active stock buyback program.