JPMorgan analyst Don Carducci downgraded Light & Wonder to Neutral from Overweight with a price target of $95, down from $108. The firm believes the company’s core business will be challenged to achieve the original $1.4B EBITDA target as the revised fiscal 2025 EBITDA guidance of $1.43B-$1.47B now includes Grover. Light & Wonder’s free cash flow outcomes and gearing “will present challenges moving forward,” the analyst tells investors in a research note.
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