The initiation of coverage by Mizuho with an Underperform rating suggests a bearish outlook on Light & Wonder's stock. The price target of $83, while not specified if it's above or below the current trading price, typically indicates the analyst's expectation of where the stock will move. Given the negative rating, it's likely that this price target is seen as a downside from the current level, suggesting a potential decrease in stock price in the short term.