Gaming and Leisure Properties price target raised to $53 from $49 at Cantor Fitzgerald

Cantor Fitzgerald raised the firm’s price target on Gaming and Leisure Properties (GLPI) to $53 from $49 and keeps a Neutral rating on the shares. After several years of slow external growth, Gaming and Leisure has accelerated expansion by acquiring Bally’s (BALY) Lincoln casino for $700M and advancing a development pipeline that includes major projects like Bally’s Chicago, supporting projected 2026 AFFO growth of about 5.3%, the analyst tells investors in a research note. While concerns exist about regional gaming health and Bally’s exposure to large developments, Gaming and Leisure maintains strong rent coverage and Bally’s has secured additional financing, including a $1B private credit deal from Ares for its NYC casino project, Cantor says.