6 Top Stocks For Gaming, Casinos, Sports Betting: Analyst Says This Company's Estimates Will 'Prove Conservative'
Portfolio Pulse from Chris Katje
JMP Securities analyst Jordan Bender shared insights from the Global Gaming Expo, highlighting positive growth prospects for casino and sports betting companies. Flutter Entertainment is the top pick with a raised price target, while Genius Sports, Churchill Downs, and Caesars Entertainment are also recommended. MGM Resorts and Golden Entertainment have maintained ratings but with slightly lowered price targets.
October 14, 2024 | 5:45 pm
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POSITIVE IMPACT
Churchill Downs is recommended with a Market Outperform rating and a $166 price target. The company is overcoming headwinds from its Virginia project and sees potential growth in its Kentucky Derby asset.
The resolution of project headwinds and growth potential in key assets like the Kentucky Derby support the positive outlook and price target for Churchill Downs.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 80
POSITIVE IMPACT
Caesars Entertainment is recommended with a Market Outperform rating and a $59 price target. The company is poised for growth with new projects and potential revenue recovery in New Orleans.
Caesars' new projects and potential revenue recovery in key markets provide growth catalysts, supporting the analyst's positive rating and price target.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 80
POSITIVE IMPACT
Flutter Entertainment is the top pick with a raised price target from $255 to $287, maintaining a Market Outperform rating. The company's 2027 guidance is seen as conservative, with a positive outlook on its U.S. market potential.
The analyst's positive feedback and raised price target for Flutter Entertainment suggest strong growth potential, particularly in the U.S. market. This is likely to boost investor confidence and drive the stock price up.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
Genius Sports is recommended with a Market Outperform rating and a $9 price target. It is part of a duopoly in the online sports data supplier market, with a strong position and secured major league sports rights.
Genius Sports' strong market position and secured contracts provide a solid foundation for growth, supporting the analyst's positive rating and price target.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 80
NEUTRAL IMPACT
Golden Entertainment maintains a Market Outperform rating with a slightly lowered price target from $36 to $35. The company faces seasonal challenges but shows optimism for stability in the fourth quarter.
Golden Entertainment's seasonal challenges are offset by optimism for future stability, justifying the maintained rating despite a slight target reduction.
CONFIDENCE 75
IMPORTANCE 65
RELEVANCE 70
NEUTRAL IMPACT
MGM Resorts maintains a Market Outperform rating with a slightly lowered price target from $57 to $56. Positive factors include a declining supply of rooms and new growth projects in Las Vegas.
Despite a slight target reduction, MGM's positive growth prospects in Las Vegas support a stable outlook, maintaining investor interest.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 70