JPMorgan upgraded Gaming and Leisure Properties (GLPI) to Overweight from Neutral with a price target of $53, up from $52, following “constructive” meetings with management. The company said the majority of its $3.4B in capital commitments as of Q3 is funded through 2027, with much of it occurring in 2026, the analyst tells investors in a research note. The firm thinks this will have a “meaningful positive impact” on Gaming and Leisure’s earnings. JPMorgan adds the company’s balance sheet is in a position to complete all of the spending and still have leverage in the five-times range at the end of 2027, below most of its peers.
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