Light & Wonder price target raised to $86 from $78 at Truist

Truist raised the firm’s price target on Light & Wonder (LNW) to $86 from $78 and keeps a Buy rating on the shares after meeting with its management team. The analyst notes that following the company’s “robust” Q2 earnings beat, the firm sees continuing momentum across its businesses going into its acquisition of SciPlay (SCPL) majority-owned subsidiary. Light & Wonder has also reiterated its $1.4B 2025 adjusted EBITDA target on the back of significant investment in R&D, the firm tells investors in a research note.