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Light & Wonder price target lowered to $100 from $130 at Benchmark

Benchmark analyst Mike Hickey lowered the firm’s price target on Light & Wonder to $100 from $130 and keeps a Buy rating on the shares. Q1 results came in below consensus expectations and top-line growth slowed to 2%, highlighting a greater reliance on margin expansion and cost optimization to drive earnings. Management reiterated its FY25 AEBITDA target of $1.4B pre-Grover, which “aligns closely with current consensus,” but emphasized that growth will be weighted to the back half of the year, the analyst tells investors.

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