Citi upgraded Light & Wonder to Buy from Neutral with a price target of A$200, up from A$156. The company’s acquisition of Grover Charitable Gaming provides exposure to a “new high growth vertical,” the analyst tells investors in a research note. The firm believes expansion into new states, on-going state legalizations and the rollout of a premium content portfolio supports a “strong outlook.” Citi cites Light & Wonder’s improving earnings momentum for the upgrade.
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Read More on LNW:
- Light & Wonder upgraded to Buy from Neutral at Citi
- Light & Wonder price target raised to $104 from $90 at Stifel
- Strategic Acquisition of Grover Gaming Boosts Light & Wonder’s Market Position with Buy Rating
- Light & Wonder to Acquire Grover Gaming Assets
- Light & Wonder to acquire charitable gaming assets of Grover Gaming for $850M