Stifel downgrades Gaming and Leisure to Hold on ‘uninspiring’ growth

Stifel analyst Simon Yarmak last night downgraded Gaming and Leisure Properties (GLPI) to Hold from Buy with a price target of $51.25, down from $57.50. The firm says that with the delay of the company’s flagship project of Bally’s Chicago, Gaming and Leisure Properties’s annual growth rate is now only 2.8% versus the group average of 3.4%. It believes investors need some more clarity on the timing of investments to get more constructive on the shares. Stifel views Gaming and Leisure’s growth rate as “uninspiring.”