PlayAGS downgraded to Hold from Buy at Truist

Truist downgraded PlayAGS to Hold from Buy with a price target of $12.50, down from $13, after the company announced that it agreed to be acquired by private equity firm Brightstar Capital for $1.1B . The company’s management and board were frustrated by the stock’s relative underperformance the past few years and didn’t see its recent turnaround and ongoing fundamental outperformance as sufficiently reflected in the stock, the analyst tells investors in a research note.