Light & Wonder's Expansion Into Adjacent Markets To Propel Growth Amid SciPlay Acquisition: Analyst Raises Price Target
Portfolio Pulse from Nabaparna Bhattacharya
Truist Securities analyst Barry Jonas has reiterated a Buy rating on Light & Wonder, Inc. (NASDAQ:LNW), raising the price target to $86 from $78. This follows a robust Q2 beat and the expected acquisition of SciPlay Corporation (NASDAQ:SCPL) in Q4. Despite industry headwinds, SciPlay continues to see growth. LNW's management also reiterated its $1.4 billion 2025 AEBITDA target, citing expansion into adjacent markets and attracting top game design talent as key contributors.
September 08, 2023 | 6:54 pm
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POSITIVE IMPACT
Light & Wonder's stock is likely to see positive movement due to the raised price target and expected acquisition of SciPlay.
The raised price target and expected acquisition of SciPlay are positive indicators for LNW's stock. The company's robust Q2 performance and reiterated $1.4 billion 2025 AEBITDA target also contribute to this positive outlook.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
SciPlay's stock may see positive movement due to its expected acquisition by Light & Wonder.
The expected acquisition of SciPlay by Light & Wonder is a positive indicator for SCPL's stock. Despite industry headwinds, the company continues to see growth, which is a positive sign for its stock.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 80